S. 147 : Reassessment-Search and seizure-Reassessment-Assessment of third person-Notice opportunity of hearing not mandatory for issue of notice of reassessment pursuant to search-Satisfaction note is internal communication of Department not requiring document identification number-No provision requiring supply of copy of satisfaction note to assessee with notice for reopening assessment -Writ petition dismissed. [S. 132, 148, 153A, Art. 226]

S. 147 : Reassessment-Capital gains-Information from investigation unit – Penny stock – Borrowed satisfaction- Fishing inquiry not permissible-Notice quashed and set aside.[S. 10(38), 45, 148, Art. 226]

S. 147 : Reassessment-Audit objection- No new material-Notice and order disposing the objection was quashed. [S. 148, Art. 226]

S.147: Reassessment – After the expiry of four years- Query raised and issue considered in assessment proceedings- Reassessment notice and order disposing the objection was quashed. [S. 148, Art. 226]

S. 147 : Reassessment-Search and seizure-Reassessment-Assessment of third person-Notice opportunity of hearing not mandatory for issue of notice of reassessment pursuant to search-Satisfaction note is internal communication of Department not requiring document identification number-No provision requiring supply of copy of satisfaction note to assessee with notice for reopening assessment – SLP against High Court order dismissed. [S. 132, 148, 153A Art.136]

S. 147 : Reassessment-Capital gains-Information from investigation unit – Penny stock – Borrowed satisfaction- Fishing inquiry not permissible – Order of High Court quashing the notice is affirmed – SLP of revenue dismissed.[S. 10(38), 45, 148, Art. 136]

S. 145 : Method of accounting-Business income-Valuation of closing stock-Consistent application of cost or net realisable value method – Order of Tribunal deleting the addition is affirmed. [S.28(i)]

S. 143(3): Assessment- Excess stock – Violation of principle of natural justice – Order of assessment was quashed and set aside-Existence of alternate remedy-Not an absolute bar for issue of writ Violation of principles of natural justice. [S.69B, Art. 226]

S. 143(3): Assessment-Jurisdiction-Transfer of case-Notice issued by Assessing Officer from whose jurisdiction case was transferred-Notice not valid.[S. 260A, 263]

S. 143(3): Assessment-Failure of assessee to update e-mail ID resulting in non-receipt of-Own fault- No violation of principles of natural justice-Order valid- Given liberty to file statutory appeal. [S. 144B, 246A, Art. 226]