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1. Net profit @ 6% on bank deposits made - authorities below shall apply profit rate of 5% for the purpose of computing part addition as was directed in assessment year 2008-09 - AT

2. The amount sought to be disallowed was debited in the financial year 2006-07 which is not at all relevant for the assessment year 2008-09 in which assessment is sought...

3. Inclusion of AY in which search was conducted into the period of 6 assessment years - recording of satisfaction during the next year - assessment for assessment year...

4. Addition made towards receipt Assignment of Fee - Assessee has withdrawn amount from Escrow account and utilized for its business purpose - Although, there is a timing...

5. Initiation of proceedings as barred by limitation - proviso to section 153C - satisfaction to initiate proceedings u/s 153C was arrived on 15.09.2014 and the six...

6. Applicability of section 292BB – The new provision is applicable for the assessment year 2008-09 and certainly not applicable for the assessment year under consideration...

7. Assessment framed u/s.153A - computation of period of 6 years / 10 years in search cases - amendment of provisions of section 1153A(1)(b) - while computing ten...

8. The gain derived from sale of painting in the assessment year 2007–08 is not taxable as it is personal effect as defined u/s 2(14) - However, insofar as assessment year...

9. Disallowance towards Employees contribution to EPF/ESIC which was deposited belatedly but before the time limit prescribed u/s. 139(1) - Memorandum explaining the...

10. Validity of assessment order - Assessing Officer himself has not considered the assessment year 2008-09 as covered u/s 153C of the Act. The assessing Officer has issued...

11. TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer...

12. Computation of LTCG - extinguishment of the owner’s rights in the property - Transfer u/s 2(47) - year of assessment - claim of exemption u/s. 54 - the owner’s right to...

13. Reopening of assessment u/s 147 - disallowance u/s 36(i)(ii) for directors remuneration - Assessee argued absence of any fresh material in the possession of the AO and...

14. Penalty u/s.271(1)(c) or penalty u/s.271AAA - The provisions of Section 271AAA(3) of the Act specifically excludes the provisions of Section 271(1)(c) of the Act for the...

15. Validity of assessment u/s 153C - There is no prohibition in the Act that a combined satisfaction-note should not be recorded. Moreover, the satisfaction- note, is...