Here is Portfolio page of Ak, with all his work

RBI empowered u/s 35A to issue guidelines for asset classification as NPA.
Nov. 04, 2015
Petition filed to declare Guidelines issued by RBI unconstitutional by which Petitioner's Firm account had been classified as NPA. HC held, u/s 35A of Banking Regulation Act, RBI is empowered to issue directions from time to time. Even if source of power is not mentioned in document that by itself will not render document bereft of legal force. There is no doubt that power exists, with RBI to issue, such like, guidelines for asset classification.
Commissioner is to perform quasi-judicial functions to decide allegations, HC.
Nov. 02, 2015
AO passed assessment order u/s 158BC on undisclosed income. Assessee filed application before Settlement Commission. It passed order accepting amount offered by assessee as undisclosed income. Show cause notice issued by commissioner. On writ HC held, it was Commissioner who was ultimately to perform quasi-judicial functions as per provisio. to decide about correctness or otherwise of allegations made by him. Show cause notice rightly issued.-010548
Premises of Sequoia Capital have been searched by Enforcement department of FEMA
Apr. 20, 2016
Sequoia Capital is a minority share holder in Vasan Eye care, a Chennai based healthcare group. The enforcement department (ED) of FEMA is already probing Vasan for alleged FEMA violations. This has necessitated ED to look into Sequoia Capital too. Sequoia which calls itself "a startup building partner to founders in India who want to turn business ideas into enduring companies" has confirmed the action and is cooperating in all respects.
Assessee's deduct'n claim u/s 10A of I.T.Act allowed by ITAT after denial by AO.
Dec. 24, 2015
Assessee developed & traded software & hardwares. In return declared total loss. TPO passed order u/s 92CA(3) without making any adjustm't. AO denied assessee's claim of deduct'n u/s 10A of Act. However, CIT(A) allowed it on appeal. On appeal HC upheld it holding that, assessee's claim for deduc'n could not be denied unless claim was withdrawn right from initial assessm't year. A.O was directed to recompute the book profit u/s115JB of I.T...
In TP case, PLI held to be favourable in comparison to average comparable.
Nov. 02, 2015
Assessee ran business of designing packaged software & consultancy services. Ref. made to TPO, for determining arms length pricing u/s 92CA(3) in respect of international transaction entered into by assessee was accepted by AO. On appeal ITAT set aside AO decision holding, amount received from associates was reimbursement of payment of incentive & inextricably linked with corresponding expenses. PLI favourable as compared to average comparables....
Comparable Co. selected by AO for TP adjustm't rejected becoz. of diff. activity
Dec. 08, 2015
Assessee provided investment, advisory & other ancillary support services to its AEs. To determine ALP of internat'nl transact'ns, it had identified four Co's. as comparables to it. But, TPO had selected a new company & proposed TP addition.In final order, AO made TP additio'ns. DRP confirmed it. On appeal ITAT held, activities of ICSL are akin to job of merchant banker. Therefore, ICSL has to be excluded for TPA for year under consideration.-000325
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
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 dismis...
SAT directed SEBI to completely investigate insider trading case in two months.
Nov. 05, 2015
Appellant was restrained from dealing in securities or accessing Indian Securities market directly or indirectly. On appeal SAT held, prima facie view taken by SEBI that before entering into trades, appellant was privy to UPSI that L&T has fixed the floor price for selling the shares of LTFH at Rs. 70 per share is based on mere presumption & without any sustainable basis. In these circumstances, continuation of the restraint order is unju...
For taxing Govt. subsidy from public funds to note if same is capital or revenue
Nov. 02, 2015
AO held ,subsidies from State Govt., either already received or receivable, had to be accounted for as per mercantile system & were taxable. CIT & Tribunal upheld it. On appeal HC held, subsidy from Govt. would be taxable, if it can be used for any purpose by assessee likes including its trade & business & would then be in nature of trade receipts & taxable. To be seen , Subsidy from payment from public funds is capital or revenue for taxing it.-...