S. 23 : Income from house property-Annual value–Arrears of rent – Arrears of rent accruing in a prior years, not received in those years, could not be assessed in a subsequent year when same were received as income from house property-Arrears of rent attributable to preceding years cannot be brought to tax under the head income from other sources-Provision of section 25B inserted by Finance Act, 2000 with effect from 1-4-2001 would apply prospectively. [S. 22, 25B, 56]

S. 14A : Disallowance of expenditure-Exempt income-Recording of satisfaction-AO has not recorded the satisfaction how the disallowance made by the Assessee is not correct–Deletion of disallowance by the Tribunal is affirmed. [R. 8D]

S. 14A : Disallowance of expenditure-Exempt income-In the absence of any exempt income, disallowance is not permissible. [R. 8D]

S. 12AA : Procedure for registration–Trust or institution- Charitable purpose-Cancellation of registration is held to be not valid- Orders made by the CIT and ITAT are quashed and the registration held by the GIDC is ordered to be revived. [S. 2(15), 11, 12A]

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) ]