S. 148 : Reassessment-Notice-Constitutional validity-The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021-Reassessment notices issued under section 148 of the Act are quashed. [S. 147, 148A, 149, 151, 151A, 153, 292 Relaxation of Certain Provisions) Act, 2020 (TOLA), S. 3(1) of the Act 38 of 2020, Art. 226]

S. 147 : Reassessment-Revaluation of asset of firm-Transfer of revalued reserve to partners’ accounts-Section 45(3) is applicable in year of transfer of capital asset by partner to firm by way of capital contribution-Re valuation is not colourable device-Reassessment is not valid. [S. 10(2A) 45(3) 148, 260A]

S. 144B : Faceless Assessment-Issue of notice and draft assessment prior to final assessment order-Violation of principle of natural justice-Order set aside. [S. 143(3), 270A]

S. 144B : Faceless Assessment-Natural justice-Merely reproducing content of assessees replies to notices is not sufficient-Matter remanded for passing order. [Art. 226]

S. 144B : Faceless Assessment-Draft assessment order-Final notice with draft assessment order not served-Assessment order not valid. [S. 144B(1)(xvi), 144B(xxii), Art. 226]

S. 144B : Faceless Assessment-Draft assessment order-Violation of principle of natural justice-Failure to issue notice-Order not valid [S.143(3), 144(2), Art. 226]

S. 144B : Faceless Assessment-Procedure prescribed not followed-Cash credits-Firm-Partner-Source of the investors of capital and amount received need not be established-Matter remanded. [S.68,69, 143 (3), 144B(9), Art. 226]

S. 144 : Best judgment assessment-Discrepancy in dates of actual hearing and dates of service of notices mentioned in assessment order-Not granted an effective opportunity of hearing-Assessment order and consequential penalty notices set aside-Matter remanded. [S. 263, 271(1)(c), Art. 226]

S. 143(3) : Assessment-Alternative remedy-Adequate opportunities of hearing given were not availed-Writ is not maintainable when there is an efficacious statutory remedy of appeal before CIT(A). [S. 143(2), 246A, Art. 226]

S. 139 : Return of income-Revised return-Demerger-Delay in filing revised return-Demerger-Protective assessment-Sanction from Company law Board-Rejection of revised return is not valid. [S 139(5), Art. 226]