S. 147 : Reassessment—Notice issued based on overruled judgment is illegal and improper. [S. 43D, 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts- Reassessment is bad in law. [S. 148]

S. 92C : Transfer pricing–Arm’s length price–Comparable- Working capital adjustment–Question of fact–No substantial question of law. [S. 260A]

S. 68 : Cash credits—Credit entries in bank account is not explained satisfactorily–Genuineness of transaction is not proved -Order of Tribunal confirming the addition is held to be justified. [S. 69A]

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability -Liability continued to be shown in balance-sheet — Addition cannot be made as deemed income.

S. 36(1)(vii) : Bad debt–Sums written off in books of an assessee is sufficient to claim the bad debt and assessee is not required to prove the recoverability of debt.

S. 36(1)(va) : Any sum received from employees–EPF-ESI-Contribution from employees has to be paid within due date as per particular enactment-Disallowance is held to be justified. [S. (2924)(x), 43B]

S. 35DDA : Amortisation of expenditure – Voluntary retirement scheme -Deduction relating to Financial Year 2000-01, Being Fifth Year deduction is available.

S. 14A : Disallowance of expenditure – Exempt income – No disallowance can be made when the assessee has not earned any exempt income during the year. [R. 8D]

S. 10(14) : Special allowance or benefit-Employees of Life Insurance Corporation-Fixed conveyance allowance, additional conveyance allowance and expenses under head reimbursement of expenses scheme is entitled to exemption-Tax deducted at source to be reimbursed to the employees and benefit under S.89 to be extended on reimbursement of deduced amount. [S.10(14)(ii), 89, 192, R. 2BB]