S. 260A : Appeal-High Court-Delay of 224 days-Ex-Chairman’s health ailment was sufficient cause- Delay was condoned and High Court is directed to hear the appeal on merits .

S. 215 : Interest payable by assessee–Advance tax-Non deposit of amount by non -resident assessee–Levy was held to be not valid -No question of law.[S. 260A]

S. 148 : Reassessment – Notice in the name of deceased assessee- For acquiring jurisdiction to reopen an assessment, notice should be issued in name of living person, i.e., legal heir of deceased assessee-S292B could not be invoked to correct a fundamental/substantial error- Notice is held to be bad in law .[ S.147, 292B, 292BB ]

S. 148 : Reassessment-Recorded reasons not communicated – Produced before the Tribunal- Reassessment is bad in law. [S. 147]

S. 80HHD : Convertible foreign exchange –Hotel- Tour operator- Double deduction under Chapter VIA- Entitlement of deduction under diverse provisions in respect of same income- Matter referred to larger Bench. [S. 80IA]

S. 80HHC : Export business–Interest- Business income -Interest charged on delayed payment of sale consideration is assessable as business income.[S. 28(i)]

S. 28(i) : Business income- Interest income – Interest on amount advanced to contractor assessable as business income and not as income from other sources. [S. 56]

S. 14A : Disallowance of expenditure – Exempt income -Explanation offered cannot be rejected arbitrarily by the AO. [R.8D]

Benami Transactions (Prohibition of Right to Recover Property ) Ordinance , 1988.
S.2 : Benami transactions – Right to recover the property – Financial assistance was given is not a determinative factor –Burden of proving the Benami Transaction lie on the person who alleges – Failure of plaintiff to establish intention of father to purchase properties for and behalf of family – Transaction cannot be said to be benami in nature – Appeal of petitioner is dismissed.

S. 50C : Capital gains-Full value of consideration- Stamp valuation –Entire consideration was invested in bonds -The assessee cannot avoid the impact of S. 50C by claiming that his S. 54EC investment is large enough to cover the deemed consideration based on stamp duty valuation- Such interpretation renders S. 50C redundant -[ S.45,48. 54EC ]