S. 147 : Reassessment-Unexplained expenditure-Recorded reasons refers transaction amounting Rs. 45 lakhs-Documentary evidence was filed to show that no transaction of Rs. 45 lakhs was entered during the financial year-Reassessment notice and order disposing objection was quashed-Cost of Rs.5,000 was imposed on the Revenue. [S. 68, 148, Art. 226]

S. 147 : Reassessment-Natural justice-Loan-Search-Neither furnished copy of statement nor an opportunity of cross examination was provided-Reassessment notice and order disposing the objection was quashed and set aside-Matter Remanded back to Assessing Officer to take a fresh decision after furnishing all details and documents sought for by asseseee. [S. 69C, 148, Art. 226]

S. 147 : Reassessment-With in four years-Income as per annual information statement in Form No. 26AS was higher than shown by assessee in P/L account-Non disclosure of primary facts-Notice issued after investigation-Reassessment notice is valid. [S. 148, 194A 194C 194J, Form No 26AS, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Interest on borrowed capital-No failure to disclose material facts-Change of opinion-Reassessment notice and order disposing the objection was quashed. [S. 36(1)(iii), 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Sales commission-Survey-Change of opinion-Order of Tribunal quashing the reassessment was affirmed. [S. 133A, 148, 260A]

S. 147 : Reassessment-After the expiry of four years-Information from DDIT (Inv)-Accommodation entries-Bogus capital gains and losses-Penny stock scrips-Original assessment proceedings transaction was treated as bonafide-Even if it was assumed that Assessing Officer had committed a mistake, still, assessment could not have been reopened to remedy error-Reassessment notice and order disposing the objection was quashed. [S. 45, 69, 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Business income-Unsecured non-convertible redeemable debentures was actually sale consideration received in respect of sale of flats and that had escaped assessment-Issue of debentures had been a subject of consideration of assessment proceedings-Reopening on same basis was not permissible. [S. 28(1), 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Depreciation-Straight line method-Written down value method-No failure on part of assessee to disclose facts, reopening of assessment was not justified. [S. 10A, 32, 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Business expenditure-Reply to queries in respect of said expenses were furnished-Reassessment notice and order disposing objection was quashed. [S. 37(1), 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Change of opinion-Deduction allowed unit wise-Reasons for reassessment notice was the assessee should have been allowed deduction of 30 per cent and not 100 per cent-Reassessment notice and order disposal of objection was quashed. [S. 80IC, 148, Art. 226]