S. 4 : Charge of income-tax-Rental income-Property owned by Co-Owners-Association of persons-Maximum marginal rate-Rental income received by co-owners is to be assessed as income from AOP and not in hands of assessee as income from house property under section 22-Order of Tribunal is affirmed. [S.2(31), 22, 26, 167B(2)(i), 260A]

S. 4 : Charge of income-tax-Carbon Credit (CER)-Income from realisation of carbon credit is capital in nature-Not assessable as business income. [S.28(i), 260A]

S. 4 : Charge of income-tax-Income from other sources –Capital or revenue-Short term deposits-Interest income is set off against expenditure-Deposits and income were inextricably linked with setting up of project, interest income on short-term deposits of funds infused by Government is in nature of capital receipt and not revenue receipt.[S. 56, 145]

S. 3 : Prohibition of benami transactions-Change of law-Benami Property-Review petition-Applicability of section 3 and 5 of unamended 1988 Act-Unconstitutional from their inception-2016 Act containing criminal provisions can only be applied prospectively and not retroactively- Decision recalled and restored for reconsideration [[S. 2, 3, 4, 5, 24, 27(3), 27(5), 53, 54, 54A, 67 Art. 14, 20(1)]

S. 271D : Penalty-Takes or accepts any loan or deposit-Cash credits-Reasonable cause-High Court affirmed the order of the Tribunal. Revenue filed SLP which was delayed by 660 days-SLP of revenue is dismissed on account of delay as well as on merits.[S. 68, 271E, 273B, Art. 136]

S. 260A : Appeal-High Court –Long term capital gains-Penny stock-Bogus claim-High Court cannot examine factual issues not raised before lower authorities-SLP of assessee is dismissed [S. 68, Art.136]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record-Application for recalling Tribunal’s order-No rectifiable mistake apparent on the record.[Art. 136]

S. 245D : Settlement Commission-Settlement of cases-Full and true disclosure-Power-Grant immunity from prosecution and penalty-Application rejected due to lack of true and full disclosure-SLP of assessee is dismissed. [S. 245C, 245H, Art. 136]

S. 220 : Collection and recovery-Assessee deemed in default –Stay of recovery-SLP of assessee is disposed of by reserving liberty to assessee to file a review petition before Division Bench of High Court and till initial consideration of review petition for any interim or final order, there would be stay of directions. [Art. 136]

S. 192 : Deduction at source-Salary-Diversion of income by overriding title – Salary of teachers of Christian Institutions paid by State Government – Teachers paying their entire salaries to Church – Salaries not diverted at source by overriding title – State Government is bound to deduct tax at source on salaries-Central Board of Direct Taxes – Circulars -Circulars issued before independence of India – Subsequent circulars overriding earlier circular – Exemption granted under old circular is not binding on Revenue-SLP of assessee is dismissed.[S. 4, 5, 15, 192A up to 194LBB, Art. 136]