S. 80IC : Special category States-Availed deduction under section 80-IC for a period of 5 years at rate of 100 per cent,-Entitled to deduction on substantial expansion for remaining 5 assessment years at rate of 25 per cent (or 30 per cent where assessee is a company)-Not at rate of 100 per cent-Review petition is dismissed on account of 412 days in filing the review petition and also on merits. [S.80IC, Art. 136]

S.54F : Capital gains-Investment in a residential house-Purchase of two independent flats in a building two different floors-Not possible to combine them as one unit-Not entitle to exemption. [S. 45]

S. 45 : Capital gains-Long term capital gains-Exemption-Book profit-Exclusion of capital gains from calculations of book profits would not disentitle it from claiming exemption under section 10(38).[S. 10(38), 115JB(2), 260A]

S. 40(a)(ia): Amounts not deductible-Deduction at source-Payment of wages to dock workers through Labour Board-Not liable to deduct tax at source. [S. 194C, 260A, Dock Workers (Regulation of Employment) Act, 1948]

S.37(1): Business expenditure-No supporting material-Oder of High Court is affirmed. [Art. 136]

S. 28(i) : Business income-Income from house property—Income from sublicensing of property—Assessable as business income.[S. 22]

S. 17(2) : Salary-Perquisite-Amendments made to section 17(2)(ii) by Finance Act, 2007, whereby employees allotted bank-owned accommodation were deemed to have received a concession in matter of rent respecting such accommodation, were constitutional and valid-Amendments made to section 17(2)(ii) by Finance Act, 2007 with limited retrospective effect from 1-4-2002, do not violate article 14 of Constitution or other constitutional provisions.-Provision creating legal fiction – Purpose of legal fiction to be ascertained .[S.17(2)(ii), R. 3(1) Art. 14, 19(1)(g), 226]

S. 12A : Registration-Trust or institution-Education-Providing vocational training-Eligible for registration. [S. 2(15), 12AA]

S. 10(20) : Local authority-Not claimed the benefit-Order of High Court is set a side and the matters are remanded to the High Court for consideration afresh in accordance with law and on their own merits.[S. 11, 12, Art. 136]

S. 4 : Charge of income-tax -Amount received for surrender of right in patent and trademark/negative covenant—Capital receipt. [S. 28(i)]