S. 11 : Property held for charitable purposes-Amount spent on acquisition of capital assets – Allowed as deduction-Depreciation on such assets is also allowable. [S. 32]

S. 10B : Export oriented undertakings-Manufacture or production- Conversion of benzarone crude to benzarone pure constitutes manufacture-Entitled to exemption-Conversion of benzarone crude to BFX-P is not manufacture-Not entitled to exemption.

S. 10A : Free trade zone–Export through third party-Entitle to deduction.

S. 5 : Scope of total income–Accrual-Method of accounting- Amount retained under contract to ensure there are no defects in execution of contract–Amount retained did not accrue hence cannot be taxed on accrual basis. [S. 145]

S. 183 : Payment of tax–Failure to pay third instalment – Rejection of application was held to be not justified – Permitted assessee to deposit tax under Income Declaration Scheme belatedly subject interest @ 12%. [IDS, S. 196 IT Act, 119(2)]

S. 268A : Appeal–Instructions–Tax effect below Rs. 50 lakhs- Mandate issued by CBDT in circular No. 3, dated 11-7-2018- Binding on revenue-Appeal was dismissed on ground of low tax effect. [S. 260A]

S. 268A : Appeal–Instructions-Low tax effect–Instruction No 3 dt. 9-2-2011-Neither binding on Tribunal nor Tribunal-Board cannot direct the Court or Tribunal to compel litigants to withdraw appeal due to low tax effect. [S. 254(1)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue– Capital asset-Surrender of right, title and interest in plot allotted by MIDC in favour of third party-Not assessable as business income.[S.,2(14), 28(i), 45]

S. 260A : Appeal-Review-Transfer pricing–Arm’s length price–Following the earlier year order review petition is allowed-The appeal is restored to original file of this Court and shall be heard on its merits. [S. 92C]

S. 260A : Appeal-High Court–Sale of shares-Income earned from sale of shares held for more than one year–Held as long-term capital gain- Applicability Explanation to S. 73 cannot be raised for first time in proceedings pending before High Court. [S. 45, 73]