S. 10(23AAA) : Funds established for welfare of employees-No renewal was required once a Pension fund set up by assessee approved by concerned authority. [S.10(25), 12A]

S. 4 : Charge of income-tax–Capital or revenue–Business of accepting deposits from members and lending the same to non members-Waiver of deposit–Waiver of principal component of deposits and debentures–Capital receipts. [S. 28(i)]

S. 254(1): Appellate Tribunal- Duties- Relying on the case laws not cited by both the parties- Not dealing with the case law cited by the representative of the assessee- Matter remanded to the Tribunal to pass the fresh order . [ S.80IB (10) ]

S. 253 : Appellate Tribunal – Condonation of delay of 318 days- Delay “Useless advice” by a professional to not file appeal and to instead file a Cross Objection if Revenue filed the appeal cannot help the assessee because there was always going to be a chance that Revenue might not file appeal- Delay is not condoned .[ S.253(3), 254(1) ]

S. 153A : Assessment – Search- Abated assessment- It is open to both parties, i.e. the assessee and revenue, to make new claims for allowance or disallowance. [ S.132, 139(1) ]

S. 68 : Cash credits – Share capital- Identity of the investors were not in doubt- Furnished PAN, copies of the income tax returns of the investors as well as copy of the bank accounts in which the share application money was deposited in order to prove genuineness of the transactions- Not required to prove source of the source- Deletion of addition by the Tribunal is held to be justified .

S. 245D : Settlement Commission – Settlement of cases – Jurisdiction- Black Money Act — Undisclosed income of Non-Resident Indians – Change in the Black Money Act only from assessment year 206-17 – Pending reassessment proceedings order of Settlement Commission for assessment years 2004 -05 to 2015-16 is held to be valid – Writ petition of the revenue is dismissed . [S. 148, 153A,245A, 245C,245D(4) , Black Money (Undisclosed Foreign Income and Assets) and Imposition of tax Act, 2015, 2(9) ,3 , 4(3) , Art .226 ]

S.54F : Capital gains- Investment in a residential house -A part of amount deposited in Capital Gains Account Scheme was utilized for construction or purchase of a new asset within specified time of three years- Remaining unutilized amount is chargeable to tax in previous year in which period of three years expired- Entitle to withdraw the amount deposited in the capital gains Account subject to deduction of tax applicable .[ S.45, 54F(4) , Art .226 ]