S. 37(1) : Business expenditure -Capital or revenue-Amount paid to associate company, (G4S) for providing expert advisory and other security related services and knowhow inter-alia including use of trademarks -Not allowable as business expenditure as the amount was not incurred for wholly and exclusively for business purposes ,as the assessee has not led any evidence to establish the manner in which the technical know-how as acquired from G4S had been used in its business.

S. 36(1)(vii) : Bad debt – Failure of subscribers of chit fund to make payment of their instalments is allowable as bad debt.

S. 32 : Depreciation –Leasing of vehicles- Asset utilized for the purposes of business- Entitle to depreciation

S. 12AA : Procedure for registration –Trust or institution- At time of initiation of proceedings for cancellation of registration in year 2008, Commissioner did not have such a power in terms of sub-section (3) of section 12AA and, accordingly the order was to be set aside [ S.12A ]

S. 12A : Registration –Trust or institution-Non disposal of application for registration after expiry of six months period is deemed to be granted automatically o expiry of six months period .

S. 12A : Registration –Trust or institution- Registration of a trust does not involve enquiry into actual activities or application of funds, etc. and at that stage only enquiry required to be conducted is with respect to object of trust alone .[ S.2(15). 11 12AA]

S. 10(10C) : Public sector companies – Voluntary retirement scheme – Employee of bank having opted for voluntary retirement under Voluntary Retirement Scheme was eligible for exemption.

S. 4 : Charge of income-tax –Capital or revenue- Subsidy- Technology upgradation of existing units as well as to set up new units with latest technology to enhance their viability and competitiveness in domestic and international markets- Capital receipts [ S.28(i)]

S. 4 : Charge of income-tax –Capital or revenue -Interest from mobilization advances made by it to contractor for purpose of facilitating smooth commencement and completion of work of construction- Receipts being intrinsically connected with construction business of assessee would be capital receipt and not income of assessee from any independent source [ S.56]

S. 2(22)( e ) : Deemed dividend- Buy-back in excess of fair market price of shares –Direction of Tribunal to make an enquiry in to fair value of shares, which could have implication of deemed dividend –Direction is held to be valid.[ S.115QA, 254(1) ]