S. 5 : Scope of total income-Accrual of income-Sale proceeds-Memorandum of understanding (MoU) with SIPL to invest in project to be executed by SIPL-Agreement for sale-Project was not completed-whole profit cannot be taxed in the first year of execution of MOU-Matter remanded. [S. 145]

S. 2(14) : Capital asset-Rights or interest in a property-Period of holding is to be reckoned from date of first agreement, while calculating capital gains. [S. 2(42A), 2(42B), 45]

S. 24(3) : Benami Transactions-Amendment Act 2016-Jurisdictional High Court declaring amendment to have no retrospective effect-Operation of order stayed by Supreme Court-Binding precedent-Interpretation-Decision of High Court not set aside and to be followed by same High Court precedent-Effect of stay order by Supreme Court-The authorities were not to take any further steps in the matter till the disposal of these writ petitions and the petitioners shall not sell, otherwise transfer, deal with, encumber or part with possession of the properties in question till the disposal of the writ petitions-An order of stay in a pending appeal before the Supreme Court does not amount to any declaration of law but is only binding upon the parties to the proceedings and at the same time, such interim order does not destroy the binding effect of the judgment of the High Court as a precedent because while granting the interim order. [S. 24(5), 26(7), Art. 226]

Art. 141 : Covid-19-Limitation-Extension of period-Order dated March 8, 2021 restored with clarifications-Period from March 15, 2020 till March 14, 2021 excluded and further clarification given [Art, 142, Arbitration and Conciliation Act, 1996 S, 23(4), 29, Commercial Courts Act, 2015, S. 12A, Negotiable Instruments Act, 1881,S.138,any other law, which prescribes limitation]

S. 89 : Tax Arrears-Adjustment of refund-Refund amount first to be adjusted towards arrear of tax and not penalty-Direction issued to grant certificate. [S. 87 (e), 87) (f) ,90(1), ITACT, 140A, Art. 226]

S. 181 : Failure to pay full amount of tax according to declaration-Declaration would be non est-Part payment cannot be forfeited-Amount must be returned to the assessee. [S. 183(1), 187(3), 191, Art, 265]

S. 3 : Disputed tax-Disputed arrears-Interest-Department appeal-Matter remanded to Assessing Officer-Designated Authority demanding 100 per Cent of Disputed tax as payable-Held to be not sustainable. [S. 2(1)(j), 2(1)(j)(o), 4, 5, 6, IT Act, 2(43), 234D, 244A (3), Art. 226]

S. 2(1)(a)(ii) : Appellant-Service of order after one year-Rejection of application was set aside. [S. 148, 156, 282, Art. 226]

S. 2(1)(a)(i) : Appellant-Pending appeal before Appellate Tribunal-Deemed pendency-Condonation of delay-Appeal filed on 25-1-2021-Declaration was filed on 8-2-2021-Delay condoned by Tribunal by order dated 15-2-2021-Rejection of application. Was held to be not valid. [S. 2(1)(j)(B), IT Act, 253(1), 254(1), Art. 226]

S. 2(1)(a) : Appellant-Draft assessment order-Final assessment order was not passed-Eligible under the scheme [IT Act, S. 144C, Art. 226]