1.   CIT Vs DLF Power Ltd –Delhi High Court- Section 263

 It has been held that no action under section 263 could be taken against an order of AO which itself is rectified under section 154 of the Act. In respect of second issue vis-à-vis addition of provisions of bad and doubtful debt it has been held that the view of the AO not adding the same was correct.

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2.   CIT Vs J.C.L.International-Delhi High Court- Section 73 and 32

It has been held that accumulated depricitation of earlier years can be setoff with the long term capital gain.

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3.   DCIT Vs Bombay Diamond- Section 115JB- Bombay ITAT

It has been held that AO has power to tinker to with the balance sheets result of the assessee under the provision of section 115JB.

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