S.28(i): Business income- Capital gains-Conversion in to stock in trade-Development agreement-Project completion method-Advance received equivalent to share cannot be taxed in the year of receipt –As per the agreement ,right to collect said amount would crystallize on day when tenements or portion of land would be sold/handed over by developers to prospective buyers in subsequent year- Taxable in subsequent year- Capital gains arising on conversion of land into stock-in-trade prior to development agreement would also be taxed in subsequent year in which the right to collect the amount is crystallized- Conversion of capital asset into stock-in-trade, capital gains had to be worked out on basis of fair market value of property as on date of conversion and not on basis of existing market value of property . [ S. 4, 5,45, 145 ]

S. 14A : Disallowance of expenditure – Exempt income –Income from other sources- Dividend income on investment made in Oman-No disallowances can be made- DTAA-India- Oman [S.90(2), Art . 25, R.8D ]

S. 271(1)(c) : Penalty – Concealment -Disallowance of claim -Rejection of revised return-Mere making claim which is unsustainable in law will not amount to furnishing inadequate particulars ; what the law contemplates is making of a false claim or claim which is not bona fide – Deletion of penalty is held to be justified. [ S.80IC ]

S. 4 : Charge of income-tax -Power subsidy- Capital or revenue- Purpose test- Power subsidy which is available only to new units and units which have undergone an expansion , purpose being incentive as a capital subsidy has to be regarded as capital receipts .[ S.28(i) ]

S. 254(1) : Appellate Tribunal – Duties- It would always be ideal for the Tribunal to consider the entire issues in an appeal , so that the parties can have a quietus to the matter.

S. 158BB : Block assessment – Undisclosed income – Gift-Statement during search proceedings- Retraction-Books of account-Oral statement -Evidentiary value -Found and evidence found- Divergence opinion among Courts-Referred to larger Bench (CIT v. DPA Harjeev ( 2016) 241 Taxman 199/ 6 ITR -OL 504 ( Delhi) (HC), CIT v. Hotel Meriya ( 2011) 332 ITR 537 ( Ker) (HC) [ S. 68, 131,132(4), 158BA, Evidence Act, 1872 , S.3, 57, 114 ]

S. 263 : Commissioner – Revision of orders prejudicial to revenue -Dissolution of company-Taken over by limited liability partnership-Opportunity of hearing must be granted to successor before passing the order-Matter remanded to the Tribunal .

S. 254(1) : Appellate Tribunal – Duties- Consolidation of appeals on the request of the department without adequate notice to the assessee is quashed [ S.253]

S. 144C : Reference to dispute resolution panel -Draft assessment order- Limitation- Quoting wrong provision in the assessment order in consequential-Alternative remedy – Writ is not maintainable .[S. 92CA, 246(1)(A), Art . 226 ]

S. 139AA: Return of income – Quoting of Aadhaar Number – Permanent Account number— Provision making it compulsory for all assessees to obtain Aadhaar Card and quote Aadhaar number to prescribed authority —Extension of time by Circular issued by CBDT -Directions issued stating that return filed by the assessee should be processed accordingly . [ Art .226 ]