S.54F : Capital gains- Investment in a residential house -Co-owner of property – Cannot be treated as absolute owner – Denial of exemption is not valid [ S. 45 ]

S. 23 : Income from house property – Annual value – Property was vacant throughout the year – Addition cannot be made on notional rent [ S. 22, 23(1)( c)]

S. 80I : Industrial undertakings – Income derived – Interest received from customers for delay in payment of sale consideration – Entitle to exemption .

S. 41(4) : Profits chargeable to tax – Bad debt – Bad debts recovered by the amalgamated company – Liable to tax [ S. 36(1)(vi), 41(1) ]

S. 12AA : Procedure for registration –Trust or institution-Limitation period of six months – Any decision taken afresh in pursuance to directions of the appellate authority the period of limitation of six months is not applicable [ S. 12AA(2), 80G, Form 10A ]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Unsigned notice – Order is bad in law- Notice and order was quashed . [ S. 147, 148 292B, Art , 14, 226 ]

S. 69C : Unexplained expenditure – Civil Contractor engaged in civil construction contracts- Purchases from suspicious dealers – Official websites of the Sales Tax Department, Government of Maharashtra -Bogus purchases -Books of account not rejected – Opportunity for cross examination was not provided – Purchases through banking channels- Deletion of addition is upheld [ S.133(6), 143(3)]

S. 279: Offences and prosecutions – Sanction – Chief Commissioner – Commissioner – Compounding can be done beyond a period of 12 months – Guidelines contrary to the Act – Rejection of Compounding Application Quashed.[ S. 192 , Art , 226 ]

S. 271(1)(c) : Penalty – Concealment – Addition based on stamp valuation – Deeming section – Levy of penalty is not valid .[ S. 56(2)(x) ]

S. 276B : Offences and prosecutions – Failure to pay the tax deducted at source – Application failed to disclose same offences in earlier years – Rejection of compounding application is held to be valid [ Art, 226 ]