“Section 78(2)”

When an assessee provides the identity and address of a creditor or investor for a cash credit or share capital under Section 68, the burden shifts to the Department to establish lack of genuineness or creditworthiness, requiring it to conduct further inquiries; mere non-compliance by third parties to summons cannot be the sole basis for an adverse inference against the assessee.

Interest income earned by a co-operative society from deposits made with a co-operative bank out of its surplus funds is eligible for deduction under section 80P(2)(d). For this purpose, a co-operative bank is considered a co-operative society.

An employer can claim deduction for employee contributions to provident fund or ESI under Section 36(1)(va) if these sums are deposited on or before the due date for filing the income tax return under Section 139, extending the benefit of Section 43B to such payments.

Even if statutory language appears merely enabling, courts infer a duty to exercise such power when it aids a citizen's right. Public authorities cannot decline to act when circumstances warrant help, nor can they act to a person's detriment without justification.

An assessment notice issued under section 143(2) is invalid if it is not issued by the Income Tax Officer (ITO) as per CBDT Instruction No. 1/2011, even if issued by an Assistant Commissioner of Income Tax (ACIT). Such an invalid notice renders the subsequent assessment void.

Reassessment proceedings are not justified if initiated based on material already on record, as this constitutes a mere change of opinion and not the discovery of fresh tangible material.

A revisionary order passed by the Commissioner is not sustainable if the Assessing Officer has made detailed enquiries and applied their mind to the issue, accepting the assessee's claim.

An assessee has a duty to disclose all material facts truly and fully for assessment; the assessing officer's potential diligence does not absolve the assessee of this duty.