S. 147 : Reassessment –With in four years-Survey –Reassessment on the basis of statement of the partner –Reassessment is held to be valid- Adoption of cost of construction – Matter is remanded [ S.133A ]

S. 80P : Co-operative societies – Interest income earned by assessee was from carrying on its business activities— Entitle to deduction [ S.80P(2)(a))(i) ]

S.68: Cash credits – Amount transferred from Pakistan – Source properly explained – Deletion of addition is held to be justified .

S. 4 : Charge of income-tax – Pre-operative expenses— Interest from banks—Capital Receipt-Income from other sources . [ S. 3,56, 145 ]

S.2(22)(e): Deemed dividend – Intercorporate deposit -Business transactions -Deposit in the course of business- Interest income was offered as income – Not assessable as deemed dividend.

S. 276C : Offences and prosecutions-Wilful attempt to evade tax -None of the authorities gave clear finding about evading tax wilfully- Minor lapse on the part of the assessee of not mentioning stock, undisclosed income in the facts of this case do not attract launch of prosecution- Prosecution proceedings were quashed. [S.277, 278B]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Valuation–Reference to valuation Officer- Discretionary power of the AO- Possible view–Revision is held to be not valid. [S. 45, 55A]

S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record –Concealment penalty-Quantum reduced to nil-Deletion of penalty by Tribunal-Tribunal recalled earlier order on rectification application of the revenue-Recalling of the order is held to be valid. [S. 271(1)(c)]

S. 253 : Appellate Tribunal–Delay of 107 days-No affidavit of Chartered Accountant was filed–Delay was not satisfactorily explained–Appeal was dismissed being barred by limitation. [S. 254(1)]

S. 226 : Collection and recovery-Stay–Pendency of appeal before Appellate Tribunal-Transfer pricing adjustments–Respondents were directed not to enforce the demand and also not to adjust the refund amounts due and payable during the pendency of appeal before the Tribunal–Tribunal is directed to complete the hearing as expeditiously as possible and under no circumstances beyond 31st March, 2019. [S. 220, 254(1), Art. 226]