S. 10AA : Special Economic Zones-Constitutional validity-Explanation after sub-section (1) of section 10AA, inserted by amendment with prospective effect from 1-4-2018, applicable in respect of assessment year 2018-19 and subsequent years-Constitutionally valid. [Art. 14, 19(1)(g), 226 265]

S. 9(1)(vi) : Income deemed to accrue or arise in India-Royalty-Sale of telecom equipment’s. i.e. mobile handsets-Supply of articles or goods-Not taxable as royalty-Review petition against SLP is dismissed-DTAA-India-China. [S. 9(1)(i), Art, 12]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-Capital gains-Shares-Not liable to be assessed as capital gains-Explanations 6 and 7 to section 9(1)(i) has to be treated retrospectively as it have to be read along with Explanation 5 which operates from 1-4-1962-OECD Model Convention, Art. 13 [S. 260A]

S. 220 : Collection and recovery – Assessee deemed in default – Stay – Pendency of rectification application- Pendency of appeal before CIT(A)- Stay is granted on entire demand till disposal of appeal . [ S.2(15), 12A, 154 , 220(6), 250 , Art. 226 ]

S. 48 : Capital gains –Mode of Computation – Sale of shares gifted by promoters – BIFR cannot sanction any modification to scheme directing the Income tax department to give further tax concession without department being consenting to grant additional concession .[ S. 45 , Sick Industrial Companies ( Special Provisions ) Act , 1985 , 3(1)(o) , 17 , 18 , 22A, Art. 226 ]

S. 147 : Reassessment –With in four years-Redemption of preference shares – Provisions of section 47(iv) are not applicable to redemption of preference shares- Order of Assessing Officer allowing the loss is affirmed – Reassessment notice and order disposing the objection is quashed . [ S. 2(47) 47 , 47 ( iv),47(v) , 148 , Art. 226 ]

S.37(1): Business expenditure – Capital or revenue – Hotel – renovation, refurbishment and repairs- Improved, efficiency of source of profit or income, expenses incurred for that purpose is allowable as revenue expenditure . [ S.30(a)(ii) ]

S.147: Reassessment – After the expiry of four years -Advertisement and sales promotion -No failure to disclose material facts – Reassessment notice and order disposing the objection was quashed – SLP of Revenue is dismissed . [ S. 37(1), 148, Art. 136 ]

S. 271AA : Penalty-Failure to keep and maintain books of accounts-Documents-International transaction-Transfer pricing-Not specified the documents / information which are required to be kept or maintained-Order of CIT(A) deleting the penalty is affirmed.[S.92D(1), 92D(2)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue Capital gains-Penny stocks-Exemption cannot be denied merely based on surrenders made by bogus entry providers claiming that it provided bogus LTCG through shares of such company-Revision order is quashed.[S. 10(38),45 148]