S. 144B : Faceless Assessment-Opportunity of hearing-No notice was issued-PAN database no e-mail id was registered-Notice should have been served physically upon assessee at least by courier or speed post and acknowledgment filed as was also mentioned in SOP issued by CBDT for assessment units under faceless assessment-Revenue was to be directed to strictly comply with SOP in all cases, not just restricted to faceless assessment proceedings Reassessment and notice is quashed and set aside-Matter remanded for de novo consideration.[S. 147, 148, Art. 226]

S. 143(3): Assessment-Penalty-Tax in default-Covid 19-Notices were issued to the registered e-mail of assessee which was operated and accessed only by the Chartered Accountant-Matter was remanded to department to pass a fresh order.[S. 142(1), 221, Art. 226]

S. 143(3) : Assessment-Search and seizure-Undisclosed profit-Loose papers and other documents-Failure to examine the Chartered Accountant-Matter remanded to the Tribunal for reconsideration. [S. 132, 132(4A), 292C]

S. 142(2A) : Inquiry before assessment-Special audit-Sufficient opportunity was afforded to assessee before sanction was granted for special audit-Writ petition is dismissed. [Art. 226]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Specified domestic transaction-Comparable-Functional similarity-Company engaged in marketing research and management activity was comparable to assessee-company, investment advisory services provider. [S. 260A]

S. 90 : Double taxation relief-Foreign tax credit (FTC)-Form-67 filed before completion of assessment and after due date specified for furnishing return under section. 139(1)-Rejection of FTC is not justified-DTAA-India-Australia [S. 91, 139(1), 143(1), Rule 128, Form-67 Art. 24, Art. 226]

S. 48 : Capital gains-Mode of Computation-Sale of shares gifted by promoters-BIFR cannot sanction any modification to scheme directing the Income tax department to give further tax concession without department being consenting to grant additional concession-SLP is granted against the order of High Court. [S. 45, Sick Industrial Companies (Special Provisions) Act, 1985, 3(1)(o), 17, 18, 22A, Art. 136]

S. 44BB : Mineral oils-Computation-Presumptive tax — Non-resident-Service tax collected-Not includible in gross receipt-SLP of Revenue is dismissed [S.44BB(2)]

S. 37(1) : Business expenditure-Capital or revenue-Hotel-renovation, refurbishment and repairs-Consultancy payments-Allowable as revenue expenditure.[S.28((i)]

S. 10AA : Special Economic Zones-Constitutional validity-Explanation after sub-section (1) of section 10AA, inserted by amendment with prospective effect from 1-4-2018, applicable in respect of assessment year 2018-19 and subsequent years-Constitutionally valid. [Art. 14, 19(1)(g), 226 265]