1. IT : Where subsequent to search Assessing Officer issued notice under section 153C to assessee-company as by that time assessee was already amalgamated into another company, as completion of assessment in respect of a non-existent company was a nullity and also same could not be cured under section 292B. Commissioner of Income-tax v. Micron Steels (P.) Ltd. IT APPEAL NOS. 19 TO 24 OF 2014
  2. IT : In order to claim deduction under section 11(2) it is not necessary that deposits have to be made out of current year’s income; earmarking of existing fixed deposits, which is free from any lien, towards income accumulated under section 11(2) during year under consideration would be sufficient compliance. Dharmodayam Co. v. Income-tax Officer, Ward-1 (1), Thrissur. IT APPEAL NO. 552 (COCH.) OF 2014 [ASSESSMENT YEAR 2004-05], August 10, 2015[2015] 59 taxmann.com 430 (Mumbai – Trib)
  3. IT : Where assessee could not provide addresses, confirmation, etc., from two creditors and it was found that in last so many years those parties had never been seen by anybody and they had also not made any demand from assessee for last more than 10 years, liability in respect of said creditors was considered as having been ceased under section 41(1)Asht Laxmi Diamond & Jewellery v. Income-tax Officer, 21 (1) (1), Mumbai. IT APPEAL NO. 6182 (MUM.) OF 2011 [ASSESSMENT YEAR 2007-08]