S. 11 : Property held for charitable purposes – Surplus earned from organizing exhibition- As separate books of account is not maintained denial of exemption was held to be justified .[ S.11(4A) ]

S. 10(46) Authority: Greater Noida Industrial Development Authority which is engaged in undertaking works relating to housing schemes and land development schemes including acquisition, distribution, sale and letting of properties is entitle to exemption .

S. 10(38) : Long term capital gains from equities -Insurance business- Sale of investments is exempt from tax .[S.45 ]

S. 10(23C) : Educational institution – Merely on the ground that surplus of society was utilized for expansion of school building, exemption cannot be denied .[ S.10(23C)(vi) ]

S. 2(42C) : Slump sale – There was neither any plant, machinery, furniture and fixtures, nor was there any building in existence at time when land was sold therefore it was not a slump sale.

S. 237 : Refunds – Tax deducted at source- It is an obligation cast on revenue to effect refund, without calling upon assessees to apply for refund claim. Revenue was directed to grant refund with interest .

S. 153B : Assessment – Search – Time limit – On a remand under S. 263, such assessment would have to be completed only within a reasonable period of time. [ S.153A, 263 ]

S.147: Reassessment -Share capital- Bogus accommodation entries – Reassessment was held to be valid [ S. 68 ,143(1),148 ]

S.147: Reassessment-After the expiry of four years- Firm -Partner- Pension paid to retiring partner which was allowed as deduction- Reassessment was held to be not valid [ S. 37(1),148 , 184 ]

S. 145 : Method of accounting – Mere fact that books of account were not supported by vouchers of payments received from patients, same could not be a ground to reject assessee’s books of account and to make addition on estimate basis