S. 147 : Reassessment – Change of opinion- Reassessment in the absence of any new material on record amounts to change of opinion- Reassessment proceedings to be quashed. [ S.148 , 154]

S.147: Reassessment-With in four years- In the absence of assessee’s failure to disclose facts, reassessment was to be quashed. [ S.148 ]

S. 147 : Reassessment – After the expiry of four years- Outstanding creditors for more than 10 years –Capital gains- Where the assessee had made the due disclosure, assessment could not be reopened after four years from the end of the Assessment year. [S. 41(1), 45, 115-O]

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

S. 145 : Method of accounting–Accrual- Surcharge receivable from customers on delay in payment of electricity bill taxable on receipt basis and not accrual basis. [S. 4, 5]

S. 80IA : Industrial undertakings – Infrastructure development- Where the assessee had sold many units, it was entitled to deduction under S.80-IA even if the Authority’s approval came later on. [S. 80IA(4)(iii)]

S. 40(a)(ia) : Amounts not deductible – Deduction at source –Commission or brokerage – Payment to banks for processing of credit card transactions not liable to deduction u/s. 194H. [ S. 194C, 194H ]

S. 12AA : Procedure for registration –Trust or institution-Violation of S. 13 is not a ground for cancellation of registration. [S. 13]

S. 10A : Free trade zone – Re computation of a claim already made is permissible- Language of S.80A(5) does not restrict the correction or modification of claim before the AO. [S. 80A(5)]

S. 183 : Scheme-Composite declaration for several years—Condition laid down in scheme is fulfilled in respect of some of years—Entitled to benefit of scheme for those years—Self-assessment tax and advance tax is not adjustable against amounts due under scheme- Appeal will be entertained without raising the issue of limitation if the appeals are filed latest by April 30, 2019. [S. 246A]