S. 254(1) : Appellate Tribunal–Powers-Remand with Directions– Consequential enhancement is held to be valid. [R. 8D]

S. 148 : Reassessment–Notice–Return filed in response offering lesser income- Assesse cannot raise fresh independent claims having effect of reducing income already declared. [S. 147]

S. 147 : Reassessment–Reasons recorded mentioned incorrect amount – No reason to believe–Reassessment is held to be bad in law. [S. 148]

S. 147 : Reassessment–After the expiry of four years–No additions sustained on the reasons recorded–Reassessment is bad in law . [S. 148]

S. 145 : Method of accounting-Project Completion Method-Percentage Completion Method-Project completion method is held to be valid- Deletion of addition in respect of advance received from customers is held to be valid. [S. 145(3)]

S. 143(3) : Assessment–Amalgamation–Merger -Assessment order passed in the name of non-existent entity–Held to be invalid. [S. 143(2)]

S. 68 : Cash credits-Bank statement cannot be considered as books maintained by assessee-Addition is held to be not valid.

S. 68 : Cash credits–All details regarding cable operators available on record–All deposits received in cheque which were subsequently refunded back- Deletion of addition is held to be justified.

S. 54 : Capital gains–Profit on sale of property used for residence– Acquisition of three flats–Converted into one single unit–One electricity meter / bill for the entire residential unit–Deduction could not be denied in spite of there being three separate agreements for purchase and sale of flats, [S. 45]

S. 44BB : Mineral oils – Non-residents – Business for prospecting/exploration, mineral oil etc. vessels given on hire- Required to be shown to be fitted with necessary equipments, and having technical capacity for use in prospecting for, or extraction or production of mineral oils-Matter remanded.