S. 153A : Assessment-Search-Alleged bogus long-term capital gains-No incriminating material-assessments cannot be substantiated. [S.45, 68, 69C, 132]

S. 153A : Assessment-Search-No incriminating material was found-Share capital-Investor companies had ample funds to make investment in share capital-Opportunity of cross examination was not provided-Deletion of the addition was affirmed. [S. 68, 260A]

S. 153A : Assessment-Search or requisition-Total income-Completed Assessments remain unabated -No addition permissible for such years in absence of incriminating material having been found in search – Completed or unabated assessments can be reopened under Section 147 or 148 of the Act-Miscellaneous application of Revenue is dismissed. [2(45), 131, 132, 132A, 143(1), 143(3), 147, 148, 150(2), 285BA]

S. 153A : Assessment-Search-No incriminating material-Addition cannot be made in respect of unabated assessments-SLP of Revenue is dismissed. [S. 132 Art. 136]

S. 153A : Assessment-Search-No incriminating material was found-Share capital-Investor companies had ample funds to make investment in share capital-Opportunity of cross examination was not provided-SLP of Revenue is dismissed. [S. 68, Art. 136]

S. 151 : Reassessment-Sanction for issue of notice-After the expiry of four years-Satisfaction recorded by Joint Commissioner-The notice issued under section 148 and order is set aside. [S. 147, 148, 151 (1), Art. 226]

S. 149 : Reassessment-Time limit for notice-Service of notice-Period of limitation-Authentication of notices and other documents-Notice dated 2-6-2022 for the assessment years 2013-14 and 2014-15, mailed after 3-6-2022-Not mentioning the name and designation of the concerned officer-Notice and order is quashed and set aside. [S. 148, 148A(b), 148A(d), 282A, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Time limit for notice-Notice dated 30-6-2021-The said notice was dispatched on 16-7-2021-Limitation expired on 30-6-2021-Notice is barred by limitation-Notice and order was quashed. [S. 148, 148(b), 148A(d), 149, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-No obligation to supply material or evidence on basis of which opinion is formed – Interpretation of Taxing Statutes – Nothing can be read into or implied – Words to be given their plain meaning-A taxing statute is to be interpreted literally-There is no intendment to taxing statute and nothing can be implied from or read into a taxing statute. The words used in taxing statutory provision are required to be given their plain meaning-.Alternative remedy-Writ petition is dismissed.[S. 148, 148A(b), 148A(d), Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Transfer cases from Chandigarh to New Delhi-Transfer of case to new Delhi-Notice issued by the Assessing Officer who had no jurisdiction-Order of Transfer come in to effect immediately-Notice was quashed-Existence of alternative remedy is not absolute bar. [S. 127(2), 148, 148A(b) 148A(d), Art. 226]