S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Transactions of purchase and sale of shares-Notice under Section 148A(d) issued on different ground as reasons in 148A(b)-If Foundational allegation is missing in the notice issued under Section 148A(b)-Same cannot be incorporated by Issuing supplementary notice-Notice was quashed. [S. 147, 148A(b), 148A(d), Art. 226]

S. 148 : Reassessment-Notice-Recording satisfaction with signature of prescribed authority mandatory-Prescribed Authority’s digitally signed approval obtained after issue of notice without jurisdiction and invalid-Notice and subsequent reassessment proceedings quashed. [S. 147 151, 282A, General Clauses Act, 1897, S. 3(56), Art. 226]

S. 148 : Reassessment-Notice-Law laid down by Supreme Court not followed-Matter remanded to Assessing Officer. [S. 147, Art. 226]

S. 148 : Reassessment-Notice-Notice should be issued by Assessing Officer who has jurisdiction over assessee. [S. 129, 147, 148(1), 148(2), Art. 226]

S. 147 : Reassessment-Notice-Reasons recorded unfounded-No failure to disclose material facts-Violation of principle of natural justice-Notice without jurisdiction-Strictures-Reassessment done without adhering to the rule of law-Illegal demand and order quashed-Cost of 50,00,000 was awarded on Department-Government to frame Circular-Alternative remedy is not a bar to maintain writ petition. [S. 144B, 148, Art. 226]

S. 147 : Reassessment-Notice-Best judgment assessment-Capital gains-Reasons recorded non-existent-Notice and subsequent reassessment order quashed. [S. 45, 144, 144B, 148, Art. 226]

S. 147 : Reassessment-Addition made on the basis of for reopening assessment was deleted by CIT(A)-Other income cannot be assessed on the basis of invalid notice. [S. 148]

S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Shares received as gift and their value disclosed in original assessment-Reassessment notice is not valid. [S. 52(vii)(b), 148, Art. 226]

S. 145 : Method of accounting-Rejection of accounts-Estimate should be fair-Local knowledge and circumstances of assessee should be taken into consideration-Order of Tribunal affirmed. [S. 145(3), 260A]

S. 145 : Method of accounting-Change of method-Mercantile System of accounting to completed contract accounting-Change is bonafide-Income-Accrual-Bills certified as relating to work completed in relevant assessment year cannot be recognised as receipts and brought to tax. [S. 4, 5]