S.37(1): Business expenditure – Capital revenue- Opening of new stores /outlets expenditure on salaries , machinery and other repairs , travelling conveyance professional fees , electricity expenses telephone expenses etc is held to be revenue expenditure .

S. 12AA : Procedure for registration –Trust or institution-Genuineness of Trust is established – Registration cannot be refused [ S. 2(15),12A ]

S. 11 : Property held for charitable purposes – Depreciation- Income to be computed in normal commercial manner without classification under various heads referred in S.14 of the Act. [ S.14, 32 ]

Interpretation -Communication of Ministry of Commerce can be relied on – Inland ports.

S. 47A : Capital gains – Withdrawal of exemption – Conversion of proprietary concern in to company – Only licence to use Brand name – When exemption from capital gain was not claimed -Deletion of addition was held to be justified [ S.47 ]

S. 260A : Appeal – High Court – Jurisdiction and limitation issue can be raised for the first time in appeal [ S.153C, 253 ]

S. 271AAA : Penalty – Search initiated on or after 1st June, 2007 –When no specific query to substantiate the manner of earning undisclosed income was put forward to the assessee by the authorised officer levy of penalty was held to be not valid when the taxes were paid on the amount surrendered [ S.132(4) ]

S.45: Capital gains- Amount received on transfer of rights to carry on any business is taxable as capital gain and not as business income [ S.28(va),54EC ]

S. 12AA : Procedure for registration –Trust or institution-Registration cannot be refused on the ground that the Trust deed does not contain dissolution clause .[ S.12A]

S. 43A : Rate of exchange – Foreign currency – Foreign exchange fluctuation on loan liability on fixed asset being notional and no actual payment was made would not require any adjustment in the cost of the fixed assets on accrual basis , as the S.43A is amended w.e.f 1 st April , 2003 . [ S.37(1) ]