S. 220 : Collection and recovery-Assessee deemed in default–Stay–Rejection of stay application and directing to pay 20 percent of demand, without application of mind is held to be bad in law. (Art. 226]

S. 158BD : Block assessment-Undisclosed income of any other person-Non-recording of reasons independently by Assessing Authority of searched person, could not be said to be fatal for initiating proceedings. [S. 132, 158BC]

S. 153A : Assessment–Search-Address at which search could be conducted would be place or location, where books of accounts, documents, jewellery, unaccounted assets could be located and it need not be registered office of person concerned-Proceedings u/s 153A is held to be valid. [S. 133A, 153A, Art. 226].

S. 147 : Reassessment–Housing project–Claim was examined in original assessment proceedings-Merely because the AO did not examine such claim from angle of clauses (e) and (f) thereof, would not be a valid ground for reopening assessment. [S. 80IB(10), 148]

S. 147 : Reassessment–Method of accounting-Full and true disclosure of all material facts regarding change in method of accounting in respect of Non-Performing Assets (NPAs) at time of assessment itself-Reassessment is held to be bad in law. [S. 145, 148]

S. 147 : Reassessment-Survey-Merely on the basis of statement of partner addition cannot be made in respect of difference between stamp valuation and sale price of property on basis of such offering made by partner-Reassessment was quashed. [S. 43C, 45, 133A, 148]

S. 147 : Reassessment–With in four years-Change of opinion Interest income-Income from other sources–Adjustment of interest income against interest expenditure and remaining amount was transferred to work-in-progress account-Reassessment is held to be not valid. [S. 56, 148]

S. 145 : Method of accounting–Stock valuation-Cash credit limits-Discrepancy in stock as per books of account of assessee and that shown in bank statements–Deletion of addition is held to be justified.

S. 145 : Method of accounting–Stock valuation of gold-LIFO method of valuation–Recognised in law–No substantial question of law. [S. 260A]

S. 145 : Method of accounting–Trading in rice-Assessing Officer was justified in accepting two entries relating to profits and disregarding other two entries concerning losses.