S. 12AA : Registration–Trust or institution-Procedure for registration of trust-CIT(E) has to examine the objects of the trust and if they are found to be charitable, the assessee deserves to be granted registration The quantum of the genuineness of the activity can be examined only after the trust comes fully into operation.

S. 12AA : Registration–Trust or institution-CIT(E) has to examine the objects of the trust and if they are found to be charitable, the assessee deserves to be granted registration. [S. 12A]

S. 10B : Export oriented undertakings – Newly established hundred per cent export-oriented undertakings-Research and development in pharmaceutical, in the export drug related services. Tribunal set aside the matter to AO to decide the nature of business of the company and also to ascertain the claim under S.10B of the Act. [S. 10A]

S. 12AA : Procedure for registration –Trust or institution- Animal care- Amount spent was less than 10 lakhs towards animal care such as food medical etc- Activities would be included under S.2(15) of the Act, accordingly benefit of S.80G(5) (vi) would also be available – Entitle to registration. [ S.2(15), 11, 13, 80G(5)(vi) ]

S. 12AA : Procedure for registration –Trust or institution- At the time of registration what has to be looked in to is whether the trust is a genuine or it is a sham institution- Registration allowed by the Tribunal is held to be justified [ S.11, 12,80G ]

S. 153A : Assessment – Search and seizure-No incriminating material was found- Addition cannot be made in respect of unabated assessment which has became final .[ S.132, 143(3) ]

S. 80IB(10) : Housing projects- Stilt parking is part and parcel of housing project – Eligible deduction .

S. 22 : Income from house property – Business income -Real estate developer- Main object is not acquiring and holding properties – Rental income is held to be assessable as income from house property . [ S.28(i)]

S. 28(iv) : Business income – Profits chargeable to tax – Remission or cessation of trading liability – Loan waiver cannot be assessed as cessation of liability if the assessee has not claimed any deduction [ S.41(1)]

S. 74 : Penalty-Repeal of statute–Interpreattaion of statutes-Pending proceedings-Effect of repeal of a statute–Show cause notice will not survice–Given liberty to both parties to add to or amend or delete the questions in the Wealth Tax Reference within a period of eight weeks from today- Once this is done, the writ petitions will taken up and decided on their merits. Considering these writ petitions are of 2005, we request the High Court to hear the same expeditiously-Appeals allowed and set aside the common impugned judgment of the High Court. Wealth tax references are set aside. [General Clauses Act, S. 6, 6A]