S. 28(i) : Business income-Income from lease-Exploitation of property and not exploitation of business assets-Assessable as income from other sources-Quality loss-No business carried on-Not allowable as deduction. [S. 2(14), 56]

S. 13 : Denial of exemption-Trust or institution-Benefit of specified persons-Valuation of rent-Burden to prove inadequacy of rent is on Department-Rent received exceeded valuation adopted by Municipal Corporation for purpose of levying house tax-Merely relying upon the opinion as to rent from property broker firms and websites additions cannot be made-Order of Tribunal is affirmed-Res Judicata-Rule of consistency is followed. [S. 11, 12, 13(2)(b), 13(3)]

S. 11 : Property held for charitable purposes-Education-Dissemination of knowledge through Museum or Science Parks constitutes education-Entitled to exemption. [S. 2(15), Companies Act, 1956, S. 25]

S. 11 : Property held for charitable purposes-Method of accounting-Tribunal calling for information and affidavit filed in response by assessee-Affidavit not referred to by Tribunal or by High Court-Orders of Tribunal and High Court set aside and matters remitted to Tribunal for consideration afresh. [S. 254(1), 256(2), 260A]

S. 10B: Export oriented undertakings-Reconstruction-New unit formed in 1998 fully independent with higher production capacity, located at separate plot-New undertaking-Entitled to exemption.

S. 5 : Benami Transaction Limitation-Order passed within time limit-Delay in communication-Order not barred by limitation-Alternative remedy-Writ is not maintainable.[S.24(1),24(3), 24(5), 26(3), 26(7), 46, 114 Art, 226]

S. 191 : Tax paid under the Scheme shall not be refunded-Paid two instalments- Default in paying final instalment- Seeking extension of time to pay third instalment-Request rejected by High Court-Direction that assessee be given benefit of amounts deposited towards first two instalments while reckoning tax liability of assessee after revised assessment. [S. 183, 185, Art. 226]

S. 2(5B) : Charge of tax-Financial company-Transfer of distribution business to a new company-Matter remanded-Interpretation of taxing statute-Charging provision must be construed strictly. [S. 2(7)]

S. 281B : Provisional attachment-Power must not be exercised in an arbitrary manner-Recovery proceedings against assignee of Partner’s Share in firm-Provisional Attachment Of Property Of Firm is not valid-Interpretation of taxing statute-The golden rule of interpretation of statutes is that the statute has to be construed according to its plain, literal and grammatical meaning, unless it leads to absurdity. [Indian Partnership Act, 1932, S. 29]

S. 276C : Offences and prosecutions-Wilful attempt to evade tax-Self assessment-Default in payment of tax on time-Paying tax in instalments-No mala fide intention to evade tax. [S. 140A(3), 226, 276(2)]