S. 132(8) : Search and seizure-Retention of the books of account and other documents-Beyond thirty days after proceedings are completed-Obligation to communicate decision to assessee-Proceedings under Act does not extend to appeal by Special Leave to Supreme Court. [S. 153A, 158BC, Art, 136, 226]

S. 113 : Tax-Block assessment-Search cases-Levy of Surcharge-Amendment by Finance Act, 2002-Amendment not retrospective-Search proceedings initiated in November 1995-Surcharge not Leviable. [S. 132, 245D, Art, 226]

S. 92CA : Reference to transfer pricing officer-Limitation-60 days-General Clauses Act-Order barred by limitation-Writ is maintainable. [S. 92B, 92CA(3), General Clauses Act, 1897, S.9, Art, 226]

S. 92C : Transfer pricing-Arm’s length price-Exclusion of comparables-Order of Tribunal affirmed. [S. 260A]

S. 44 : Insurance business-Life Insurance business-Income to be computed under Rule 2 To First Schedule-Loss from pension fund can be set off and also carried forward. [S. 10(23AAB), 10A, 115B]

S. 43(5) : Speculative transaction-Derivatives-Amendment not retrospective-Entitled to set off of loss incurred in transactions of derivatives against business-As amended by Finance Act, 2005 With Effect From 1-4-2006 [S. 28(1), 43(5)(d), 70, 73]

S. 43(1) : Actual cost-Depreciation-Subsidy-Subsidy received from Government-Proviso and Explanation 10 to Section 43(1) by Finance (No. 2) Act, 1998-Not retrospective in operation-Matter remanded for verification. [S. 32]

S. 32 : Depreciation-Motor Vehicles-Additional depreciation-Charitable Trust-Operating buses to transport students to Schools-Not entitled to additional depreciation. [S. 11, 12A, ITR 1962, Appx. I, Item III-2(ii)]

S. 22 : Income from house property-Lease of immovable property Lease agreement as owner of immovable property and not as owner of a business asset-Income assessable as income from house property.

S. 12AA : Procedure for registration-Trust or institution-Corpus donation of funds to another charitable trust-In One Accounting Year-Registration could not be cancelled. [S. 2(15), 11]