S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Cash deposit-Cash credit-Review of completed assessment in grab of reopening of assessment is not allowed.[S. 68, 143(3), 148, 148A(b), 148A(d), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Recorded reasons-Capital gains-Non filer of return-Additions made on the ground of not entitlement of DTAA benefits-Reassessment notice and consequential order is set aside-DTAA-India-Mauritius. [S.9(1)(i)), 148, 148A(b), 148A(d), Art. 13, Art. 226]

S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Loan-Cash credits-Once assessment is reopened it is not confined to those subjects only-If no addition is made on the recorded reasons-The Assessing Officer cannot make additions in respect of items forming part of original return-Assessment order is quashed and set aside. [S. 147, 148, 148A(b), 148A(d), Art. 226]

S. 147 : Reassessment-Recorded reasons-Sanction-Reasons placed for consideration before Joint Commissioner to seek approval-Reasons submitted for approval as appropriate reasons for reopening is contrary-Reassessment order is set aside and quashed.[S. 148, 151, Art. 226]

S.147: Reassessment-After the expiry of four years-Change of opinion-Fixed deposit interest-No failure to disclose material facts-Reassessment notice and order disposing the objection is

S. 147 : Reassessment-After the expiry of four years-Additional depreciation-No failure to disclose material facts-Order of Tribunal quashing the reassessment order is affirmed. [S.32, 148, 260A]

S. 87A : Rebate to be allowed in computing income-tax-The assessee could not be restrained from claiming rebate under section 87A by modifying utility by which assessee was forbidden at threshold itself from making such a claim. [S.115BAC, 139D, Rule 12, Art. 226]

S. 68 : Cash credits-Long term capital gains-Penny stock-Order of Tribunal allowing the exemption is affirmed.[S. 10(38), 45, 260A]

S. 68 : Cash credits-Established source and capacity of the parties-Order of Tribunal is affirmed.[S.260A]

S. 68 : Cash credits-Share capital and share premium — Creditworthiness and genuineness is established-Subscribers complied with the notices issued u/s 133(6) of the Act. [S.133(6), 260A]