S. 205 : Deduction at source-Credit for tax deduction at source-Bar against direct demand–No recovery from the assessee for default committed by the deductor to deposit the tax deducted amount with the Government Treasury. Garnishee proceedings was quashed and directed the revenue to refund the amount recovered from the assessee. [S. 226(3)]

S. 147 : Reassessment-After the expiry of four years-Capital gains- Cost of acquisition -In absence of fresh tangible material and in the absence of failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment- Reassessment is held to be in valid. [S. 45, 49, 68, 148]

S. 143(2) : Assessment–Notice–Defective return-On removing the defects in the return with in time permitted relate back to the date of filing of original return -Limitation for issue of notice has to be from the date of filing of original return- Notice issued was held to be in valid. [S. 139(9)]

S. 80HHE : Export business-Computer software–Eligible business- While computing the deduction turnover of only eligible to be considered and not total turnover of business.

S. 54 : Capital gains-Profit on sale of property used for residence-Deduction is available when the construction of flat is completed with in three years from the date of sale of property and not from the date of commencement of construction. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation- Sale of inherited residuary right in the property-No transfer of land or building -Provision of S.50C is not applicable-Cost of acquisition to be taken at nil.[S. 45]

S. 49 : Capital gains – Previous owner – Cost of acquisition – Shares received on dissolution of Trust – Period of holding of the previous owner i.e. the Trust to be considered -Sale consideration received on sale of shares has to be assessed as long term capital gains [S. 45, 49(1)(iii)(b), 54F, 68 ]

S. 37(1) : Business expenditure- Capital or revenue -Purchase of software- Held to be revenue expenditure.

S. 272A : Penalty-Failure to file return with in prescribed time period -Penalty provision will attract automatically irrespective income determined in the course of assessment. [S.139(4A), 272(2)(e), 275(1)]

S. 147 : Reassessment-After the expiry of four years-Two house properties – Annual value -Deemed let out- All relevant facts were brought on record at time of assessment–Reassessment is bad in law. [S. 22, 23(1), 148]