S. 32 : Depreciation-Firm succeeded by company-Intangible assets-Successor assessee-company was entitled to claim depreciation on actual cost incurred by it with reference to such intangible assets. [S. 35(2(AB), 47(xiii)]

S. 32 : Depreciation-Increased cost of plant and machinery-Foreign Exchange rate fluctuations-Allowable.

S. 12AA : Procedure for registration-Trust or institution-Cancellation of registration retrospectively-Making donation outside India-Cancellation of registration was held to be not valid-Order of Tribunal is affirmed. [S. 11, 12A]

S. 11 : Property held for charitable purposes-Expenses incurred earlier years-Adjusted to income of subsequent year-Income to be determined on the basis of commercial principle-To be considered as application of income. [S. 10(34), 11(1)(a), 11(1)(d)]

S. 11 : Property held for charitable purposes-Charitable objects-Membership and connectivity charges incidental to main object-Entitle to exemption. [S. 2(15), 12A]

S. 4 : Charge of income-tax-Interest from short term deposits (STDs)-Open letter of Credit for procuring Plant and Machineries-Capital receipts-Reduced from cost of capital assets. [S. 28(1), 56] 

S. 147 : Reassessment –With in four years-Change of opinion – Payment to related parties – Incentives to senior employees – Difference in VAT return and Turnover as per profit and loss account -Reconciliation – Questions asked in the course of original assessment proceedings – No discussion in the assessment order – Reassessment notice was quashed. [ S. 40A(2)(b) , 148 , Art , 226 ]

S. 88 : Tax arrear-Amount payable-Adjustment of refund was made as per request of the assessee-Not disclosed the truth and suppressed the communication-Writ petition was dismissed. [S. 245, Art. 226]