S. 4 : Charge of income-tax -Interest awarded under Land Acquisition Act is in nature of solatium and an integral part of compensation and receipt of same is a capital receipt whereas, interest awarded under the said act is on account of delayed payment of compensation and is revenue receipt. [S. 10(37), Land Acquisition Act, 1894, S , 28,34 ]

S. 11 : Property held for charitable purposes – Charging of fees for educational activities which has to be applied for the object of the trust has to be seen as application of income -There is no disharmony between S. 10(23C) and S. 11 and exemption cannot be denied .[S. 10(23C) 12, 12A ]

S. 12A : Registration –Trust or institution- Corpus contributions being capital receipts, cannot be charged to tax though the trust is not registered [ S. 2(24)(iia),12AA ]

S. 12AA : Procedure for registration –Trust or institution- Assessee, a body corporate, was formed under U.P. Urban Planning and Development Act, 1973, to promote and secure development of local area is eligible for registration [ S.2(15) ]

S.37(1): Business expenditure- Corporate entity – Administrative expenditure to maintain status of the company , is held to be allowable though the manufacturing activity of fragrance and flavours was discontinued. [ S.57(iii))

S. 54 : Capital gains – Profit on sale of property used for residence-When entire capital gain is invested in a flat under construction , exemption cannot be denied on the ground that possession was not given [ S.45 ]

S.56: Income from other sources- Business income- Business discontinued- Interest earned on inter -corporate deposit was held to be assessable as income from other sources and not as business income [ S. 28(i) ]

S. 140A : Self assessment -Failure to pay self assessment tax , penalty cannot be levied [ S. 221 ]

S. 234B : Interest – Advance tax -Book profit- In view of Explanation 1(v) of sub-section (1) of S. 234B, MAT credit has to be allowed from ‘assessed tax’ and, thereafter, interest to be computed [

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record –Law of limitation will be governed by the law applicable when the order of Tribunal was passed and not as per amended law with effect from 1-06-2016 Since taxability of FTS is 15% earlier direction of Tribunal to tax at 20% is amended -DTAA-India- UK[ S.115A, art. 13(2) ] .