S. 10AA : Special economic zones-Free Trade Zone-Declaration on Software Technology Parks of India forms sufficient-No Requirement to maintain separate books of account-Entitle to exemption on incremental income arising pursuant to advanced Pricing Agreement (APA).
S. 10A : Free trade zone-Turnover-Expenses to be reduced from export turnover as well as from total turnover.
S. 5 : Scope of total income Accrual of income-Dispute in project work and reconciliation-Award of Interest-Not enforceable award or decree-Not acquiring any vested right to receive interest-Notional amount not assessable. [S. 4, 145]
S. 3 : Previous year-Compensation under settlement agreement-Calendar year as previous year-Date of settlement on 1-1-1984-Receipt was taxable in the assessment year 1985-86 and assessment year 1984-85. [S. 3(1)]
S. 271(1)(c) : Penalty-Concealment-Failure to specify the charge, which limb penalty proceedings initiated-Penalty quashed.
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposits-Detailed reply along with documentary evidence filed before Assessing Officer to explain source of Cash deposits-Order neither erroneous nor prejudicial to the interest of revenue.
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Charitable trust-Assessment Order Cryptic and without any discussion-Revision is held to be justified. [S. 11, 12A]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Search and Seizure-Original assessment completed prior to date of search-No incriminating documents found during search-Revision is held to be not valid. [S. 143(3), 153A]
S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Delay in filing miscellaneous application two years 11months-No specific power conferred on Tribunal to condone delay in filing miscellaneous applications-Miscellaneous applications dismissed.
S. 251 : Appeal-Commissioner(Appeals)-Powers-Power of enhancement-Short term capital gains-No power to assess new source of income. [S. 45]