Here is Portfolio page of Ak, with all his work

If done after banking hrs, bid amount can be deposited on next day of auction.
Nov. 05, 2015
On non payment of Loan amount. Bank auctioned mortgaged property of company. Petition was filed for setting aside sale. HC held, officer authorized by bank, which was conducting auction proceedings, had no option but to call upon second respondent to deposit 25 per cent of bid amount by next day. Such deposit has to be treated as deposit made immediately after bid of second respondent had been declared successful. Hence, petition was dismisse…
Allowed of only 1% exp. towards brand building exp. held correct by HC.
Dec. 11, 2015
Assessee received royalty against brand lease agreem't for tobacco related products.AO held, reason for booking said advert. exp. was to inflate profit of brand lease holder Co's. Thus, he only allowed 1% exp. towards brand building exp. CIT(A) deleted disallowance made by AO. ITAT upheld it. On appeal HC held, wh. assessee was wise & prudent in incurring exp., is not within domain of examinat'n by AO, unless premitted & allowed under statu…
Departmental authorities Jurisdiction had to be founded on Sec. 34 of I.T.Act.
Oct. 30, 2015
Amount assessed as foreign income. Invoking of Sec.34 was denied. On appeal Tribunal held, until war was over, no information to ITO, if business was running & if any income had been earned at all abroad but termination of war & information about existence of foreign business, constituted definite information which justified taking of Sec. 34. On appeal HC upheld it stating that Sec. 34 was validly applied for relevant assessment year.
Amount invested by assessee in bonds, entitled it to benefits u/s 54E, HC.
Nov. 02, 2015
As income had accrued to assessee-company u/h of Long-term capital gain on transfer of asset in respect of its two units, it was taxed by AO. On appeal tribunal upheld it. On appeal HC held, as assessee had made relevant disclosure in return for relevant assessment year when enhanced compensation was received transfer took place. Amount invested by assessee in bonds, which entitled it to certain benefits u/s 54E. Notice u/s 148 quashed.-010549
Remember: Excise could be charged on a good, only if it satisfies these 3 points
Apr. 19, 2016
Government can charge excise duty on a good if it satisfies the following 3 conditions:1. The good should have been manufactured.2. The good should be marketable.3. The good should be listed in the first schedule and the second schedule of the Central Excise Tariff Act, 1985
Assessment proceeding held invalid due to non issuance of notice u/s 143(2).
Sep. 22, 2015
AO initiated assessment proceedings against assessee. As no notice was issued under section 143(2), assessee alleged that assessment proceedings were invalid. On appeal, CIT held in favor of assessee observing that notice issued to assessee was a notice for penalty and was not a notice u/s 143(2) of I.T.Act. Further on appeals to CIT and HC both upheld CIT decision & contention presented by the Assessee holding assessment proceedings to be inva…
Lease rent paid till commencement of production held as revenue expenditure.
Nov. 03, 2015
Assessee filed income return declaring total income at 'Nil. Notices u/s 143(2) & 142(1) were issued to him. AO made additions to income of assessee. On appeal CIT(A) partly allowed appeal. On appeal ITAT held, lease rent paid under arrangement for imported machinery & equipments for establishing manufacturing Plant by assessee, for period new plant had not commenced production, was revenue expenditure. On appeal HC upheld ITAT decision.-000285
SEZ covered by Sec. 115JB(6) irrespective of claiming deduction u/s 10A I.T.Act.
Dec. 10, 2015
Assessee mfd. gold jewellery. It claimed deduct'n u/s 10A of I.T. Act against income generated out of unit located in SEEPZ. AO, held said deduct'n should be granted against total income available after setting off of brought forward losses & dep & determined book profit u/s 115JB of I.T.Act. CIT(A) upheld it. On appeal ITAT held, unit in SEZ will be covered by Sec. 115JB(6) irrespective of fact that those units were claiming deduction u/s …
Opinion at time of certificate grant can't debar AO from initiating proceedings.
Nov. 02, 2015
Assessee company worked on contract for PGCIL. AO reopened assessment. Assessee objected. AO rejected it on ground that authorization issued u/s 195/197 provisional in nature. HC held, no return had been filed. As per Sec.195 &197, clear that if any opinion expressed at time of grant of certificate, it is tentative or provisional or interim in nature would not debar AO from initiating proceeding u/s 147 due to change of opinion. -010551
Additions made by AO on ground of unexplained investment upheld by HC.
Dec. 11, 2015
Assessee purchased plot for consideration of Rs. 3.70 lakhs. After survey u/s 133A, filed a revised return, declaring sale considerat'n at Rs. 38 lakhs. AO opined that there was unexplained investment of Rs. 34.30 lakhs on part of assessee & made addit'n in light of facts. CIT(A) & ITAT upheld it on appeal. On appeal HC held, assessee was unable to refer to any contradict'n in statements of his vendors or any evidence to rebut material on r…