S. 260A : Appeal High Court-Abatement of proceedings- Death of assessee on 18-6-2016-Legal heirs not brought on record in spite of time given repeatedly to revenue-Proceedings abated.

S. 147 : Reassessment-Second reassessment-New tangible material was found- Reassessment is valid-Order of single judge is affirmed. [S. 148, 149(1)(b)]

S. 147 : Reassessment—Within four years-Deduction allowed without discussion in original assessment — Reassessment on the ground that excess deduction was allowed is held to be valid. [S. 148]

S. 147 : Reassessment-Beyond four years-Explanation 3, to S.147 by Finance (No. 2) Act, 2009-After issuing a notice under S. 148, he accepts the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him independently to assess some other income-If he intends to do so, a fresh notice under S.148 would be necessary- Assessing Officer has no power to reassess other income not mentioned in notice under S 148. [S. 148]

S. 80HHC : Export business-Income derived-Profits due to exchange fluctuation and provision written back–Entitle to deduction.

S. 35AD : Deduction in respect of expenditure on specified business-Hotel business- Certification of Hotel as three-Star Category Hotel in subsequent year-Deduction cannot be denied on the ground that Certification was in later year. [S. 35D(5)(aa)]

S. 28(i) : Business loss-Fertiliser Bonds Issued By Central Government In Lieu of subsidy-Sale of Bonds at price Lower than face value-Loss is allowable as business Loss.

S. 28(i) : Business loss- Capital or revenue-Investment in shares as Stock-in-trade-Consistency method-Loss is allowable as business loss. [S. 45]

S. 14A : Disallowance of expenditure – Exempt income – Recording of satisfaction- Mixed funds – Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640 (SC) does not lay down a proposition that the moment it is demonstrated that the assessee had availed of mixed funds, i. e., interest-free as well as interest bearing funds and utilized them for making investments into securities earning tax-free income and the rest applicability of section 14A read with rule 8D would be automatic Resorting to the method prescribed under rule 8D is not automatic-Deletion of addition by the Tribunal is held to be justified. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income – Mixed funds-Having sufficient own funds–No disallowance can be made. [R. 8D]