S. 147 : Reassessment-Export business-No new material-Notice under direction of Commissioner-Reassessment is held to be not valid. [S. 80HHC, 148]

S. 147 : Reassessment–With in four years-Report of investigation wing showing over valuation of shares–Original assessment u/s. 143(1)–Notice on the ground of over valuation shares is held to be valid. [S. 143(1), 143(3), 148]

S. 147 : Reassessment-After the expiry of four years-Capital gains-Year of taxability-No new material–Reassessment is held to be not valid. [S. 45, 148]

S. 147 : Reassessment-After the expiry of four years-Furnishing all details in response to notices-Non-application of mind by assessing officer to materials produced at the time of original assessment-Reassessment is invalid. [S. 142(1), 143(2) 148, Art. 226]

S. 145 : Method of accounting–Valuation of stock–Goods ready for shipment had not been transferred-Declaration made in accordance with provision of sales tax is not relevant for the purpose of income-tax Act-Valuation of stock at cost or market price at the option of assessee-Held to be valid.

S. 145 : Method of accounting–Not maintaining of stock record-Rejection of books of account is held to be valid-CIT(A) has the power of enhancement after giving an opportunity of hearing-No substantial question of law.[S. 145(3), 251]

S. 142(2A) : Inquiry before assessment–Special audit–Complexity in accounts–Order to Special audit is held to be valid-Juristic person like a company cannot file a writ petition. [Art. 226]

S. 80IB(10) : Housing projects- Condition that completion certificate must be obtained within four years from local authority -Amendment is not retrospective —Not applicable prior to 1-4-2005 – Order of Tribunal quashing the reassessment is held to be valid. [S. 147, 148]

S. 68 : Cash credits–Loan–Accommodation entries-Creditor admitting loan was not genuine–Retraction of admission after more than two years–No evidence was produced to prove genuineness of loan-Order of Tribunal is affirmed-No substantial question of law. [S. 131, 133A, 260A]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contractors-Turnover did not exceed monetary limit prescribed under the Act for tax audit – Not liable to deduct tax at source-Disallowance cannot be made for failure to deduct tax at source. [S. 44AB, 194C]