S. 254(1) : Appellate Tribunal – Legal opinion – Delay of 458 in filing an appeal against an order under section 263 of the Act was condoned on payment of cost of Rs 25000 to the Maharashtra State legal Services . [ S. 253, 263 , 260A ]

S. 153C : Assessment – Income of any other person – Search – Assessment initiated without issue of notice is held to be bad in law [ S.132 ]

S. 153C : Assessment – Income of any other person – Search – Additional ground – The date of receiving the books of account by the Assessing Officer having jurisdiction over such other person, from the Assessing officer of the searched person- Satisfaction by the A.O in the file of the assessee i.e the person other than the searched person, shall be taken as the relevant date for reckoning the period of six assessment years for which assessments could have been framed u/s 153C. [ S.132 ]

S. 147 : Reassessment – Cash deposits -Cash credits – Issue of notice mechanically without application of mind – Assessment is held to be bad in law [ S.68, 148 ]

S.143(3): Assessment – Joint development – Share of profits paid to co -developer based on oral understanding can not disallowed as the recipient had offered it to tax and there being no revenue loss and the transaction was tax neutral [ S. 28(i) , 37 (1) ]

S.56: Income from other sources – Notional interest on security deposit from lessee- Cannot be taxed

S. 54 : Capital gains – Profit on sale of property used for residence -Exemption cannot be denied when the property was purchased in the name of spouse . [ S.45 , 54F ]

S. 54 : Capital gains – Profit on sale of property used for residence -Exemption cannot be denied when the property was purchased in the joint name of assessee and others [ S.45 , 54F ]

S.50CA: Capital gains- Full value of consideration for transfer of share other than quoted shares – Validity of Section 49, 50CA, 56 of Income-tax Act,1961 read with Rule 11U, 11UA etc challenged before Bombay High court. [ S. 49 56 , Rule 11U 11UA ]

S. 37(1) : Business expenditure –Wholly and exclusively – Salary paid to director- Held to be allowable though the payment made was voluntary .