Where reopening of assessment was based on the very same record as available while original assessment, reopening was not justified without AO having bought in any extraneous aspect…

Where supporting vouchers relating to expenses for tea and freight charges, etc., could not be preserved due to exceptional working conditions, disallowances in full as made by AO were not sustained in full…

Where mode of purchase of shares as adopted by the assessee was that of an investor and gains arising on sale thereof were offered to capital gains, tax AO was not justified in treating the same as business income on a mere ground that shares were…

Development rights over a property is also a property in itself and income arising on transfer thereof is to be charged to capital gains tax. AO was not, therefore, justified in treating the same as income from other sources…

The loss arising from settlement of forward contract taken by the assessee to safeguard the foreign exchange loan taken for acquisition of shares/debentures was capital loss and not income from other sources as was decided by DRP…

Assessee had been set up as a body of Indian Automobile Manufacturers with a view to improve and protect the environment and safety of automobile vehicles and also to work towards the growth of automobile industry in India…

Where one of the parties to a Joint Venture exited from AOP then income of the venture has to be assessed in the hands of the continuing party, even though the joint venture may have continued to exist for legal purposes…

Where entire sales were made to sister concern and GP rate was reduced due to inflated prices of raw material and similar GP rate was accepted in subsequent year, AO was not justified in holding that sales were made at lower price…

Where royalty income arose only because of direct dealing of assessee with an Indian company, without aid or support from its PE in India, AO was not justified in presuming involvement of PE in earning royalty income…

Where assessee was a director in M/s VCL and M/s SVBL and VCL had applied for shares in SVBL, but shares were, however, not allotted to VCL because of certain conditions and were allotted to assessee as per joint venture agreement…