S. 145 : Method of accounting-Rejection of Profit-No defects in the books of accounts-Similar profit margin in earlier years-Rejection of books of account is not justified-Estimation of net profit was deleted. [S. 145(3)]

S. 143(3) : Assessment-Non existing company-amalgamation-The assessment order having been passed in the name of a non existent entity, it is invalid and quashed-Being jurisdictional error, not protected u/s. 292B of the Act. [S. 92CA(3), 144C, 292B]

S. 143(3) : Assessment-Addition can only be made in respect of profits / income derived and not the entire turnover. [S. 263]

S. 132(4) : Search and seizure-Statement on oath-Merely on the basis of surrender when no corroborative evidence found against the assessee-Addition is not valid. [S. 132]

S. 90 : Double taxation relief-Collection charges paid by AAI to the assessee in whatever name called i.e. either discount or commission, is nothing but service charge paid, for assessee collecting UDF (User Development Fees) and passing it on to AAI-Cannot be said to be the income derived from operation of aircraft-Appeal dismissed. DTAA-India-Germany. [Art. 7, 8]

S. 80P : Co-operative societies-Status-Matter remanded for fresh adjudication. [S. 2(19), 80P(2)(a)(iii)]

S. 80P : Co-operative societies-letting of “godowns” or “warehouses”-CAP storage-Considered a warehouse-Income from letting of CAP storage is eligible deduction. [S. 80P(2)(e)]

S. 80IB : Industrial undertakings-Fertilizer subsidy-income derived from the business-Eligible for deduction. [S. 28(i)]

S. 80IA : Industrial undertakings-Infrastructure development-Miscellaneous receipts from the sale of scrap-Eligible for deduction.-Block of assets-Insurance claims-Capitalized-Deduction not available. [S. 2(11)]

S. 80G : Donation-Bona fide reason that challenging rejection of application under section 12A is sufficient to cover rejection of approval under section 80G as well, is a reasonable reason to condone delay in filing appeal challenging rejection of application under section 80G. [S. 12A]