S. 115JB : Book profit – lease equalization charges can be deducted while computing book profit – Provisions for non-performing assets are liable to be adjusted while computing book profit

S. 115JB : Book profit –Provision towards electricity tariff cannot be added to book profit as it is not a contingent liability .

S. 92C : Transfer pricing – Arms’ length price – There was no justification for enhancement of ALP by disallowing allocation of overhead office expenses.

S. 92B : Transfer pricing – International transaction- Interest income on loans and advances- Assessee not disputed that transaction is international transaction however disputed only on notional addition on the ground that only real income be taxed .[ S.92C ]

S. 68 : Cash credits – Sub -contract- Outstanding credits payable to sub contractors where tax was deducted at source could not be added treating same as unexplained cash credit -If addition is up held it will lead to very ubnormal to a govt contractor .

S. 68 : Cash credits – Cash withdrawn from Bank was redeposited after seven months , addition cannot be made as cash credits .

S. 68 : Cash credits – Share capital- Builder and developer- Failed to prove identity and creditworthiness of shareholders- Summons served were retuned back with remark the addressees were not available – Addition was held to be justified .[ S.131 ]

S. 48 : Capital gains –Indexed cost- Since property was acquired by father of assessee in year 1945, indexed cost of acquisition was required to be computed by considering cost of acquisition for year beginning on 1-4-1981 [ S.45, 49(1)(iii) ]

S. 45: Capital gains- Business – Income earned on sale of floor of building was held to be assessable as capital gains and not as business income -The assessee was not a property dealer but a member of the Indian revenue Service, working with the department itself. Only a portion of the property was sold. Profit on sale of land is held to be assessable as capital gains [ S. 2(13 )]

S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability – Assets and liabilities were transferred to special purpose vehicle -Tribunal failed to give independent finding , accordingly the matter was remanded to Tribunal