S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation -Six days time was granted for giving reply as against the statutory minimum seven days – Natural justice-Limitation of three years-Opportunity of being heard-Information has been found recorded in the electronic books of accounts of a third party OMX Ltd-Writ petition is dismissed. [S. 148, 148A(b), 148A(d), 149(1)(b), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Limitation-Period of 10 years-Deposits in bank accounts-Assets – Foreign contribution-Writ petition is dismissed. [S. 148, 148A(b), 148A(d), 149, Art. 226]

S. 147 : Reassessment –With in four years-Gift of shares – Transfer of capital asset-Neither S. 50CA or S. 50D were applicable – No tangible material-Reassessment notice and order disposing the objection is quashed.[S. 45, 47, 48, 50CA, 50D, 148, Art. 226]

S. 144 : Best judgment assessment-Ex parte assessment made on the basis of FIR filed by daughter in law – AO having not conducted an independent investigation or brought on record evidence to the effect that the assessee has actually earned the assessed income during the relevant year-Ex-parte order is quashed and set aside. [S. 143(3), 147, 148, IPC, 406, 498A, Art. 226]

S. 143(3): Assessment-Alternative remedy-General explanation-Writ petition is dismissed. [S.69A, 142(1), 250,254(1), Art. 226]

S. 143(3): Assessment – Notice under section 143(2)-Jurisdiction of Addl. CIT, NAFAC-Central Charge and effect of National Faceless Assessment Scheme-The operation of the CBDT’s order dt. 13th Aug., 2020 is saved by the application of S. 24 of the General Clauses Act, 1897-. Restriction under S. 124(3) on the right to raise the question of jurisdiction must extend to all grounds on which jurisdiction is called in question-If the right to call in question the jurisdiction is left open to be raised at any stage, the proceedings will remain inconclusive and that could not have been the intendment of the legislature-Writ petition is dismissed. [S.119(2), 124(3), 143(3A) to 143(3C), 144B, General Clauses Act, 1897. S. 24, Art. 226]

S. 92CA : Transfer pricing Reference to Transfer Pricing Officer – Arm’s Length price-Avoidance of tax – TPO’s order is binding on the AO-AO, without affording an opportunity of hearing to the assessee, proceeded to add an amount to the total income of the assessee, which addition was neither determined nor directed by the TPO, as the ALP of the international transaction related to the demerger of the business-Order is set aside.[S.92CA(4), Art. 226]

S. 92C : Transfer pricing – Arm’s length price-Avoidance of tax-International transaction-Most appropriate method-TNMM-CUP Method-Export of rice-Order of Tribunal accepting the method adopted by the appellant is affirmed – No substantial question of law. [S. 260A]

S. 71 : Set off of loss-One head against income from another-Constitutional validity of sub-S. (3A) of S. 71 inserted by Finance Act, 2017-Income from house property from any other head of income at Rs. 2 lakh – Not violative of Art. 14 and 19(1(g) of the Constitution of India. [S.22, 23, 71(3A) Art. 14, 19(1)(g), 226]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Payment to supervisors-Disbursement to workers-Payment made by the supervisors had not exceeded Rs. 20,000 to any individual labour-Disallowance is directed to be deleted.[S. 260A, R. 66DD(i), Indian Contract Act, S. 182, 185, 186, 188, 211]