S. 143(3): Assessment-Failure to produce purchase of material-Scam-Siphoned off funds received from State Government for flood relief-Order of Tribunal disallowing the claim is affirmed. [S. 260A]

S. 143(2): Assessment-Notice-Order passed after giving proper notice under section 143(2) and adequate opportunity of being heard to assessee-Order valid.[Art. 226]

S. 139 : Return of income-Defect not rectified-Return invalid-Order of rejection u/s 264 is affirmed. [S.44A,139(9), 264, Art. 226]

S. 127 : Power to transfer cases-Failure to give an opportunity of hearing-Transfer of case not valid. [Art. 226]

S. 119 : Central Board of Direct Taxes-Circular-Carry forward of losses-Assessee must prove genuine hardship-Rejection of application for condonation of delay was affirmed. [S.139(1), 139(3), Art. 226]

S. 119 : Central Board of Direct Taxes-Circular-Return-Condonation of delay-Rejection of application for condonation of delay without following guidelines-Not valid. [S. 139, Art. 226]

S. 119 : Central Board of Direct Taxes-Circular-Condonation of delay of 1257 days-Accumulation of income-Form no 10-Delay was condoned-Directed to file application under section 154 of the Act. [S. 11(2), 119(2)(b), R. 17, Form No.10B, Art. 226]

S. 115JB : Company-Book profit-Provision for doubtful loans and advances Loss-Actual and certain-No upward adjustment required. [S.115JB(2)(c)]

S. 92C : Transfer pricing-Arm’s length price-Avoidance of tax-International transaction-Comparables-Transfer Pricing Officer, including high brand value companies-Functional similarity alone not decisive factor-Exclusion of such comparables in subsequent assessment year-Direction to exclude the two comparables.[S.92CA]

S. 69C : Unexplained expenditure-Cash purchases and receipts for job work on the basis of seized document Estimation of gross profit at 8 per cent.-Question of fact-Order of Tribunal affirmed.[S. 132, 260A]