S. 32 : Depreciation-Building-Building structure had been standing for 20 years and it was renovated and beautified for use as a conference hall-Only 10 per cent depreciation is allowable-Not a temporary structure-Delay of 344 days in filing SLP-Delay is not condoned. [Art. 136]

S. 28(i) : Business income-Income from house property-Business of purchase and renting properties-Rule of consistency is followed-Order of Tribunal assessing the rental income as income from house property is set aside.[S. 22, 260A]

S. 28(i) : Business income-Income from other sources-Fixed deposit interest-Short term deposit for opening LC or other business purposes-Matter remanded to the Assessing Officer-Order of High Court is affirmed.[S. 56, Art. 136]

S. 17(2) : Salary-Perquisite-Rent-free or concessional rent accommodations-Claim of assessee that perquisite value of Rent-free or concessional rent accommodations should be computed under Rule 3 considering its employees at par with Central Government employees is rejected-Proceedings under Sections 201 and 201(1A) were to be quashed, as assessee had made a bona fide estimate of perquisite value consistent with a similar ruling for another CSIR unit-SLP of the assessee is dismissed. [S. 15, 201, 201(IA), R. 3, Art. 136]

S. 9(1)(vii) : Income deemed to accrue or arise in India-Fees for technical services-Non-resident company-Sales commission-Not in nature of Fee for Included Services (FIS)-DTAA-India-USA. [S.260A, Art. 12]

S. 5 : Scope of total income-Interest on Government Securities-Right to receive interest on Government securities vested in assessee only on due date mentioned in securities and could not be said to have accrued to assessee on any date other than dates stipulated therein-Delay of 364 days-SLP of Revenue is dismissed on account of delay and also on merits. [S. 145, 245C, 245D, Art. 136]

S. 5 : Scope of total income-Interest on Government Securities-Right to receive interest on Government securities vested in assessee only on due date mentioned in securities and could not be said to have accrued to assessee on any date other than dates stipulated therein-SLP of Revenue is dismissed. [S. 145, 245C, 245D, Art. 136]

S. 5 : Scope of total income-Accrual of income-High Court held that interest can be said to have accrued only on date on which it was due as per terms and conditions of security-Interest income on securities is to be taxed on due basis and not on accrual basis-Delay of 220 days-SLP dismissed on the ground that reasons assigned for condonation of delay are neither satisfactory nor sufficient. [S. 145, Art. 136.

S. 2(22)(e) : Deemed dividend-Accumulated profits-Profits disclosed would be subject to adjustment and depreciation as granted in accordance with rates prescribed by Income-tax Act have to be deducted for ascertaining accumulated profits.[S. 32, 143(1), 148]

Contempt of Courts Act, 1971.
S. 12 : Punishment for contempt of court-Dy. CIT, Range-2, Lucknow (now retired) to be guilty under s. 12 of the Contempt of Courts Act, 1971—Accordingly, a fine of Rs. 25,000 along with simple imprisonment for a period of one week is awarded to the contemnor-Dy. CIT, Range-2, Lucknow (now retired)—In case of default, he would suffer one day’s further simple imprisonment. [S.124(2), 127, Art. 226]