S. 143(3): Assessment-Amalgamation-Assessment orders passed in names of amalgamating entities-Amalgamation approved by court was informed to Department with date and other details-assessment orders issued in names of non-existent entities void ab initio-Jurisdictional issue-Additional ground was raised first time before High Court-Additional ground was admitted-Interim applications allowed-Appeals by Revenue and assessee’s writ petition rendered infructuous.[S. 143(3), 254(1), 260A]

S. 143(3): Assessment-Amalgamation-Assessment framed and TPO order passed in the name of a non-existent amalgamating company despite intimation of merger-Subsequent attempt to rectify by invoking s.154 impermissible-Use of expression “formerly known as” shows failure to acknowledge change in legal status-Assessment order a nullity and not curable u/s 292B.[S.92CA(3), 154,260A, 292B]

S. 143(3): Assessment-Reassessment-Undisclosed income-Writ jurisdiction-Alternative remedy-Granted liberty to file statutory appeal.[S. 147, 148, 246A, Art. 226]

S. 143(3): Assessment-Reassessment-Undisclosed income-Writ jurisdiction-Alternative remedy-Writ petition dismissed-Granted liberty to file statutory appeal-SLP of assessee dismissed. [S. 147, 148, Art.136]

S. 115BAA: Tax on income of certain domestic companies-Return of income-Determination of tax in certain cases-Failure to file form 10IC within extended period-CBDT circular No 6 of 2022 dt-17 3-2021(2022) 442 ITR 191 (St)-Tribunal directing the assessee to file form-Order of Tribunal affirmed. [S. 139(1), 260A, Form No. 10IC] c

S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-Profits derived from eligible business-Interest-Interest on fixed deposits placed for fulfilling obligations under licence agreement-Interest receipt having direct nexus with business-Does not fall under head “Income from other sources-Entitled to deduction under section 80IA on interest from fixed deposits-Interest on refund of excess tax deducted at source-Excess deduction of tax at source formed part of sales receipt of assessee from eligible business-Entitle to deduction under section80IA on interest on fixed deposits and interest on refund of excess tax deducted at source. [S. 56, 260A, Art. 226]

S. 71 : Set off of loss-One head against income from another-Constitutional validity and retrospectivity-Set off of loss from one head against income from another Deduction and vested entitlement to set off actual amount of loss-Income from house property to Rs. 2 lakhs for particular assessment year with effect from 1-4-2018-Insertion of sub-section (3A) in section 71 in terms of section 31 d amendment not violative of article 14-Income-tax Act, 1961, s. 71(3A)-Finance Act, 2017, S 31[1], Finance Act, 2017,(2017) 393 ITR (St.) 1) [S. 22,56(2), 71(3A), Art.13, 14, 19(1)(g), 226, 265]

S. 69C : Unexplained expenditure-Accommodation entries-Grey market-Trading of electronic items-Information from sales tax department-Summons to parties returned unserved-Tribunal restricting the disallowance to three percent of purchases-Order of Assessing Officer disallowing the peak of purchases-CIT(A) and Tribunal estimated the percentage of alleged bogus purchases-On appeal by revenue-Court held that reassessment Notice valid-Failure to quote legal provision or quoting not to vitiate an action if power and authority were to be otherwise found in statute-Order under section 143(3), read with section 147 of the Act passed by the Assessing Officer was restored. [S. 37(1), 133(6),143(1)), 147, 148, 260A]

S. 69C : Unexplained expenditure-Bogus purchases-Addition of 10 per cent. on account of bogus purchases-Order of Tribunal affirmed.[S.260A]

S. 68 : Cash credits-Demonetisation-Small borrowers-Statement not considered-Principle of natural justice-Matter remanded to Assessing Officer for fresh consideration-Taxation Laws (Second Amendment) Bill, 2016 (2016) 389 ITR (St.) 14, 21) [S. 133(6), 143(3), Art. 226]