The High Court issued direction to the authorities to release truck upon assessee depositing a sum of Rs. 60,795 proposed to be levied by way of fine in lieu of confiscation of truck.

Right to sue could not be termed as capital assets, within meaning of section 2(14) read with section 45 and, therefore, compensation received by assessee in lieu of filing sue in court of law against the society for termination of agreement, represented capital receipt not chargeable to tax.

Amount received by assessee as a legacy through the Will of God-mother under no circumstances, can be brought to tax under the head "income from other sources" as the same was exempted by Clause (c) of the Fourth Proviso to section 56(2)(vii).

LPG Conversion Kits are classifiable under HSN 8409 99 90 and the same are covered under Serial No. 116 of Schedule IV to the Notification No. 01/2017-Central Tax (Rate), dt. 28-6-2017 and, hence liable to tax at the rate of 14 per cent.

Since earning of rental income was the exclusive or predominant business of assessee, income earned by way of lease money or rentals by letting out of the property could not be taxed under the Head Income from house property, but had to be taxed as business income.

Salary paid to the partner who was partner in his representative capacity as Karta of HUF could not be considered as payment to HUF but to Karta as an individual and since Karta of HUF was a working partner, therefore, remuneration paid to him was allowable.

LPG Conversion Kits are classifiable under HSN 8409 99 90 and the same are covered under Serial No. 116 of Schedule IV to the Notification No. 01/2017-Central Tax (Rate), dt. 28-6-2017 and, hence liable to tax at the rate of 14 per cent.

Acquisition of property by means of perpetual lease exceeding twelve years, would be construed as acquisition of property/purchase of property within the meaning of section 54F. Hence, the assessee would be entitled for exemption under section 54F.

Though AO had mentioned that approval was accorded by Pr. CIT on 24-11-2016 and consequently he had initiated proceedings of complete scrutiny by issuing notice dated 25-11-2016, however, said approval of Pr. CIT was communicated to AO only on 29-11-2016. Thus, it was apparent that AO had initiated proceedings for fully/complete/comprehensive scrutiny, prior to receipt of approval accorded by Pr. CIT in anticipation of approval to be accorded by the Pr. CIT and since at the time of initiating complete scrutiny, the issue under limited scrutiny was not pending with AO as he was satisfied with reply and documentary evidence on the said issue. Disallowance of deduction under section 54B prior to necessary approval communicated to AO was not sustainable.

Section 54 was amended to specifically include the word “in India” in respect of the residential house acquired out of the long-term capital gain earned by assessee. The said, amendment is prospective and would not apply in the facts of present case since assessee sold residential property in India and earned long-term capital gain in the assessment year 2012-13 and invested the said gain in the same year for purchase of the property outside India, therefore, appeal of Revenue was dismissed.