S. 32 : Depreciation – Trade mark-Trademark was advertised for sale promotions of assessee’s products – Entitle depreciation .

S. 32 : Depreciation – Dumper’ and Valvo machines used by assessee for his own mining purposes as well as giving them on hire, were eligible for higher rate of depreciation

S. 30 : Rent rates, taxes, repairs and insurance for buildings –Rent paid –Dispute pending and keys of premises were lying with police – Rent paid is held to be allowable deduction- No question of law [ S.37(1), 260A ]

S. 28(i) : Business income –Engaged in business of leasing, hire purchase and other financial activities – Amount was recognized as a profit on securitization of lease receivables in its profit & loss account – Assessable as business income -Matching concept was never even argued or raised before the Tribunal or raised before the High Court cannot be raised first time while arguing before the High Court. [ S.145, 260A ]

S. 28(i) : Business income – Business of leasing out of land and getting rental income as land premium – land premium received by assessee was part and parcel of its business receipt and, hence, same was a taxable revenue receipt .[ S.10(20A)]

S. 12AA : Procedure for registration –Trust or institution- Delay of 18 years 3 months and 21 days- Registration was granted prospectively with effect from 1-4-2007 relevant to assessment year 2008-09 and onwards, i.e., prospectively is held to be justified -Order of Tribunal to grant the registration retrospectively was set aside .

S. 12AA : Procedure for registration –Trust or institution- Supplying food to poor school children on funds earmarked and disbursed by State Government – Implementation of such schemes would not lead to any charitable activity -Not entitle to registration .[ S.2(15),11 ] .

S. 10AA : Special economic zones -Derived from – Surplus amount in freight export account and in insurance export account was derived from export activities eligible for deduction .

S. 5 : Scope of total income -Accrual- Mercantile system of accounting -Not liable to be taxed on notional interest on non-performing assets. [ S. 145 ]

Wealth-tax Act, 1957.
S.7: Valuation of asset —Undisclosed hundis — Valuation under Income–tax Act, 1961 cannot be adopted for purposes of wealth-tax. [ S.2(ea) ]