S. 226 : Collection and recovery-Modes of recovery-Tax recovery officer-Reassessment-Strictures-After period of seventeen years-Auction by Income tax Authority-Tax recovery officer-Hindu undivided family-Pendency of appeal-Fictitious demand-Auction is nullity-TRO should cancel recovery certificate on being informed that payment had been made by concerned defaulter-Directed to pay the compensation-Where a reference has been admitted by High Court against an order of Tribunal, prudence demands to keep away from conducting auction of properties for purpose of recovery-An auction conducted under the Income-tax Act, 1961 cannot be put on the same footing as that of an auction being conducted for execution of a decree by the Court or elsewhere in public as it would be in clear distinction of income-tax default auction-Income tax department is directed to pay cost of Rs 1 lakh to the petitioner. [S. 147, 224, 225(3), 256(1), 256(2), Transfer of Property Act, 1882, S 52, Rule 56,60,61, 62, of schedule, Art. 226, 300A]

S. 158BA : Block assessment-Undisclosed income-Unexplained money-Shares-Block assessment-Assessment has to be made on actual undisclosed income and not on notional basis-The submission that the amount involved is below monitory limit is also not accepted-Matter remanded to the Assessing Officer.[S. 69A, 132, 158B(b), 158BC, 260A, 268A]

S. 154 : Rectification of mistake-Mistake apparent from the record-Book profit-Surrender of income-Surrendered income is not included in the book profit-Not a patent error-Rectification is not justified. [S.115JB, 133A]

S. 154 : Rectification of mistake-Mistake apparent from the record-Subsequent decision of Supreme Court-Order must be rectified-Order of AAR which was overruled by Supreme Court-Circular No 688 dated 17-11 1971(1972) 83 ITR 6 (St).[Art. 226]

S. 153C : Assessment-Income of any other person-Search-Notice issued prior to transfer of case-Notice and order is bad in law-The amendment by insertion of clause (c) in sub section (3) of section 124(3)(c)m by Finance Act, 2016(2016) 384 ITR 1 (St), which came into effect from 1-6-2016 is prospective in nature-Order of High Court is affirmed-SLP of revenue is dismissed. [S. 124, 127(2), Art. 136]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Notice issued without giving an opportunity of hearing heard-Notice and order is set aside. [S. 147, 148, 148A(b), 148A(d), Art. 226]

S. 148A: Reassessment-Conducting inquiry, providing opportunity before issue of notice-Purchase of property-Income from other sources-Order for issue of notice was not mentioned in the initial notice-Notice and order is quashed-Matter remanded.[S. 56(2)(viib), 147, 148, 148A(b), 148A(d), Art. 226]

S. 148: Reassessment-Notice-Claim for deduction of interest-Intimation is not an order of assessment-Assessment for the first time under section 147-Entitle for permissible deductions under the law.[S.43B, 143(1) 147]

S. 148 : Reassessment-Notice-Protective assessment-Issuance of notice after initiation of corporate Insolvency resolution process and after initiation of corporate insolvency resolution process and giving effect to resolution plan-Notices and subsequent proceedings of reassessment and penalty and consequential orders are reversed and set aside-Assessing Officer should modify demand giving effect to order of adjudicating Authority in Corporate Insolvency process under Code-Revenue may take whatever steps available to take action, if any, against ex-promoter and other third parties in accordance with law-Notices, subsequent proceedings of reassessment and penalty and consequent orders are reversed and set aside. [S. 133(6), 144, 147, 156A, 271(1)(c), 274, Insolvency and Bankruptcy Code, 2016, S. 31, 238, Art. 226]

S. 148 : Reassessment-Notice-Writ petition is dismissed on the ground with liberty to assessee to raise all contentions in reply before Assessing Officer and also direction for grant of personal hearing-Income. [S. 147, Art. 226]