S. 153B: Assessment – Search – Time limit – Limitation to pass the assessment order expired on 31.12.2020- Order passed on 21-4 -2021 is barred by limitation . [ S. 69B , 132 ,153A , 153C ]

S. 153A: Assessment – Search – Addition can not be made in the absence of incriminating material found during the search. [ S. 69A , 69C, 132 ]

S. 153A: Assessment – Search – No addition can be made merely on the basis of statement -On money – Presumption- Addition is deleted .[ S. 132, 153C, 292C ]

S. 153A: Assessment – Search – Revenue followed detailed guidelines during the search – Approval under the section cannot be considered as granted mechanically- Matter is restored to CIT(A) . [ S. 153D ]

S. 151 : Reassessment – Sanction for issue of notice –
– Notice u/s 148 issued beyond 3-year period – As per amended Section 151 (post 01.04.2021), approval from PCCIT/CCIT was required, but approval was taken from PCIT – Reassessment proceedings quashed. [ S. 147 , 148 ]

S. 151 : Reassessment – Sanction for issue of notice –Approval is granted in mechanical manner – Reassessment is quashed
Communication of assessment order – Assessment orders and demand notices issued u/s. 156, without a Document Identification Number (DIN) are unsustainable in law and can be considered invalid. [ S. 119 , 147 148 , 156 ]

S. 147 : Reassessment – CIT(A) partly allowed the claim against losses – reopening of assessment on same issue – CIT(A) allowed the reopening – Held, reopening not valid as no fresh material on record. [ S. 148 ]

S. 147 : Reassessment – Best judgment assessment – Unexplained money -Entire cash deposit cannot be treated as income – Income of the assessee is estimated at 10 per cent of cash credit and other credit . [ S.69A 148 , 249(3) ]

S. 144C : Reference to dispute resolution panel – Assessee did not file ITR – Assessment reopened u/s 147 – Capital gain not declared –limitation – Assessment order barred by limitation as extended time limit u/s 153 not applicable. [ S. 2(14)(iii) , 144C(13), 147 , 148 , 153 (2), 153(4) ]

S. 92B : Transfer pricing – International transaction – Arm’s length price -Avoidance of tax – Transactions between head office (HO) and Project Office (PO) in India- Transactions between a foreign enterprise and its PE in India qualify as international transactions under section 92B, even if both are non-residents subject to ALP adjustment – The matter is directed to be placed before the Division Bench to give effect to the direction – DTAA -India -China. [S.92 Art. 7(2),9 ]