S. 132A : Powers-Requisition of seized assets-Cash seized under guidelines issued by Election Commission-Election commission finding that seizure was not valid-Income-Tax Authorities had no jurisdiction to requisition such cash. [S.132, Art.226]

S. 92C : Transfer pricing–Arm’s length price–Comparables-Companies large and functionally distinct with different areas of development and services-Cannot be benchmarked or equated-Exclusion of three comparables-Held to be valid. [S. 92CA]

S. 80HH : Newly established industrial undertakings-Dipping plant-Manufacture- Manufacturing cloth industrial fabrics, readymade garments sewing threads etc-Entitle to deduction. [S. 2(29B)]

S. 68 : Cash credits-Loan–Onus not discharged–Addition is held to be justified.[S. 69]

S. 45 : Capital gains–Transfer–Allotment letter-Long term-Short term-Assessee in possession of sheds since date of allotment-Assessee Paying Amounts Due Under Agreement-Sale deed executed on 11-1-1996-Transfer of sheds in same year-Assessable as long-term capital gains. [S.2(42A), 2(47)(v)]

S. 43B : Deductions on actual payment- Entry tax is held to be allowable as deduction.

S. 37(1) : Business expenditure-Contribution to death relief fund for employees-Entitled to deductions. [S. 40A(9)]

S. 37(1) : Business expenditure-Compensation paid is held to be not allowable–Payment was held to be not genuine–No question of law. [S. 260A].

S. 37(1) : Business expenditure-Once prior period income is held to be taxable ,prior period expenses is held to be allowable. [S. 145]

S. 37(1) : Business expenditure—Capital or revenue-Expenditure for obtaining Licence to operate telecommunication services— Held to be revenue expenditure. [S. 35ABB]