S. 10(10C) : Public sector companies-Voluntary retirement scheme-Religuished charge as Managing Director and took over as advisor-Denial of exemption was not justified-Order of Tribunal was held to be utterly perverse, non speaking and without taking note of the factual position which has been brought out by the the CIT(A). [S. 254(1), 260A]

S. 10AA : Special Economic Zones-Special Economic Zones-Newly established Units-Export turnover-Telecommunication charges attributable to delivery of computer software outside India could not be excluded from export turnover-Telecommunication expenses and insurance charges, representing payment towards standard delivery and not delivery of software, being not incurred in foreign currency were to be excluded from export turnover. [S. 800HHC, 800HHE]

S. 4 : Charge of income-tax-Retention money-Income to be booked in the year of actual receipt [S. 5, 145]

S. 4 : Charge of income-tax-Carbon credit-Capital or revenue-Receipt from sale of carbon credit was a capital receipt and hence not liable to tax. [S. 28(i)]

S. 2(22)(e) : Deemed dividend-Unsecured loan from group company-Paid back with interest in same year-Deletion of addition is valid. [S. 260A]

S. 2(14)(iii) : Capital asset-Agricultural land-Capital gains-agricultural lands converted for non-agricultural purpose-lands did not fall within 8 kms from Municipality of Bangalore-Continued agriculrural operation-Mere inclusion of land in Special Zone without any infrastructure development does not convert land into non-agricultural land-Not liable to capital gain tax. [S. 45]

S. 115JB : Book profit – Banking Companies – Prior to amendments by Finance Act , 2012 ,provision is not applicable to Banking companies . [ Banking Regulation Act, 1949 ]

S. 147: Reassessment – After the expiry of four years – Verification tax residency certificate issued by other jurisdiction – For determining residential status, treaty eligibility and legal ownership – bad in law – Reassessment Notice quashed- DTAA-India – Singapore .[S. 143(1), 148, Art, 13(4), Art , 226 ]

S. 147: Reassessment – After expiry of four years – Income from other sources – Income from house property -Query had been raised regarding loan taken and utilisation thereof during assessment proceeding and answered – Reopening of assessment to disallow interest on such loan -Change of opinion reassessment notice and objection disposing the objection was quashed [ S. 24(3), 56 , 148 , Art , 226 ]

S. 245 : Refund-Set off of refunds against tax remaining payable-Adjustment made without prior intimation is held to be bad in law. [Art. 226]