S. 132 : Search and seizure-Validity–Initiation of search proceedings was not based upon any information or other material- Authorisation is held to be invalid and quashed. [Art. 226]

S. 115B : Life Insurance business–Surplus available in shareholder’s account was not to be taxed separately as income from other sources and same was to be taxed at normal corporate rate as specified under section 115JB of the Act. [S. 56]

S. 80IC : Special category states–Substantial expansion- Entitle to exemption.

S. 80IC : Special category states–Book profit– Legislative powers-Constitutional validity –Discrimination between individual and company-There was a reasonable classification by way of special provision for companies–Provision is held to be valid.[S. 115JB, Art, 14, 226]

S. 80IA : Industrial undertakings–Manufacture-Converting herbs into a certain herbal product by manual process-Purchase of plant and machinery and consumption of electricity are not mandatory requirements-Entitle to deduction.

S. 80IA : Industrial undertakings–Telecommunication business-Net interest earned is eligible for deduction.

S. 80G : Donation-When registration is granted application u/s. 80G(5) cannot be rejected.[S. 12AA, 80G(5)]

S. 68 : Cash credits–Capitalisation fee–Statement on oath-Search and seizure – Undisclosed income was disclosed–Addition of capitalization fee is held to be not valid. [S. 132(4), 158BC]

S. 68 : Cash credits–Share capital-Two foreign nationals–Directors of the company-Identity of share applicants and genuineness of money infused is established- Deletion of addition is held to be justified.

S. 45(4) : Capital gains–Retirement-Allotment to a partner of his share in assets of partnership after deduction of liabilities is not transfer – Not liable to capital gains tax. [S. 2(47)(vi)]