S. 36(1)(iii) :Interest on borrowed capital -loan amount was used for acquiring or construction of assets that were used for earning taxable income- Interest expenditure is allowable as deduction.

S. 28(i) : Business income -Income from other sources- Business of development of Bio-Tech Park, construction, leasing and sale of commercial properties, earned income from sub-lease of property and assessee’s business for development of Bio-Tech Park had already commenced, sub-lease income is assessable as business income and not as income from other sources .[ S.56 ]

S. 226 : Collection and recovery-Attachment—A sale is a contractual transaction-For a contract to be valid, it must be made by the free consent of parties competent to contract-In rule 16(1) of the Second Schedule to the Income-tax Act, 1961 it is expressly stated that the defaulter-assessee shall not be competent to deal with the propertyNotice ofdemand served on 5-1-2013 —Order of attachment on 21-12-2015 — Order relates back todate of notice of demand- Order of attachment is valid- Certain transfers to be void –Tax recovery Officer cannot declare transaction is null and void , it is the function of the civil court to declare a transaction null and void -The Tax Recovery Officer clearly erred in declaring the transactions to which the petitioner was a party null and void. [S. 281, Second Schedule, Rule 2, 11]

S. 271(1)(c) : Penalty–Concealment–False claim of depreciation-Levy of penalty is justified. [S. 32]

S. 92C : Transfer pricing-Comparable-Mere dissatisfaction with the findings of facts arrived at by the Tribunal is not a substantial question of law – Appeal was dismissed.[S. 260A]

S. 80IB(10) : Housing projects- Construction of approach road and permission for user of land for housing project – Entitle to exemption.

S. 68 : Cash credits—Share application and share premium- Identity of creditors, creditworthiness and genuineness of transactions established—Addition cannot be made.

S. 32 : Depreciation –Charitable Trust-Entitle to depreciation. [S.11 ]

S. 11 : Property held for charitable purposes– Application of income- Adjustment of excess expenditure against income of current year amounts to application of income[ S.12]

S. 11 : Property held for charitable purposes–Institution imparting education in Banking is entitle to exemption- Grant or refusal to grant exemption under S. 10(22) or 10 (23C) is not relevant .[ S. 2(15), 10 (22),10 (23C), 12A ]