S. 37(1) : Business expenditure–Capital or revenue–Buy back of shares-Held to be revenue expenditure.

S. 37(1) : Business expenditure–Technical consultancy fees is held to be allowable business expenditure.

S. 37(1) : Business expenditure–Amortization of investment ‘held to be maturity’–Tribunal is justified in allowing the claim. [S. 145]

S. 14A : Disallowance of expenditure-Exempt income–No expenditure incurred – Disallowances cannot be made–Rule 8D cannot be made applicable assessment year prior to AY. 2008-09. [R. 8D]

S. 12A : Registration –Trust or institution-Objects of the trust are for the advancement of the business of TPA, it would not ipso facto render the trust to be non-charitable-Entitle to registration. [S. 2(15), 11]

S. 12A : Registration–Trust or institution-Registration cannot be refused on the ground that the Trust deed is not having any provision in relation to disbursement of balance funds in the eventuality of the dissolution of Trust. [S. 2(15), 11, 115TD (c), Code of Civil Procedure, S, 91, 92]

S. 11 : Property held for charitable purposes–Accumulation of income-Order of rejection by CIT (E) was set aside. [S. 11(2), 12AA, 119(2)(b), 139(4A), 143(1), Form No 10, Art. 226]

S. 4 : Charge of income-tax-Subsidy–Capital or revenue-Technology Upgradation Fund-Focus Market Scheme-Electricity Duty Subsidy-Held to be capital receipts. [S. 28(i)]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – No loss to revenue – Assessment after detailed inquiry – Revision is held to be not valid [S. 45(2), 143(3)]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Business income or other sources- Income should be taxed as business income or as arising from the other source ia a debatable issue – Revision is held to be not justified. [ S.28(i), 56 ]