Here is Portfolio page of Ak, with all his work

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 …
Assessees claim of 25% Depreciation was rejected on ground of wrong valuation.
Oct. 30, 2015
Assessee claimed 25% depreciation on intangible assets. AO accepted it. Survey u/s 133A was carried out on assessee. Certificate issued by valuer was only for internal use of company & could not be used for claiming depreciation. AO issued notice u/s 148. On writ HC held that notices have not been issued on basis of change of opinion but on basis of fresh tangible material obtained during survey. Thus AO was correct in issuing notices.-000278
Element of discrimination in refusing benefits to assessee by AO, held HC.
Nov. 02, 2015
u/s 144/147 &10(26AAA), AO held assessee non-Sikkimese & denied benefit in tax. On writ HC held, element of discrimination in refusing benefits ,merely because assessment proceedings had already been initiated & best orders were passed for assessment years, overlooking clarification that same is applicable even in case of reassessment. Settled law that benevolent circulars providing administrative relief to assessee have to be given effect.-010552
Amt. received on parking charges was held assessable to tax in assessm'nt, HC
Dec. 09, 2015
Assessee was builder & developer. It followed project completion method for paying its taxes. AO issued notice u/s 148 on ground of non-filling of return & income received from parking charges was assessed to tax. On appeal ITAT held, amt. received on parking charges has nothing to do with assessee's project & was assessable to tax in assessm'nt. This has been accepted by assessee. & upheld levying of interest too. On appeal, HC uph…
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.
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 unjust…
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…
An exporter can claim rebate of duty on both, ie inputs used and goods exported
Apr. 19, 2016
Can an exporter claim excise duty rebate on both the inputs that he uses and the goods that he exports? This burning issue has been silenced by the Supreme Court of India in the case of Spentex Industries Ltd vs Commissioner of Central Excise, Nagpur, where the honorable court has held in favour of the assessee and held that "An EXPORTER can CLAIM REBATE on INPUTS and goods EXPORTED simultaneoulsy.
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
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