S. 73 : Losses in speculation business -Set-off of Losses —Transaction in shares- No evidence was produced – Loss cannot be set off.[ S.133(6)]

S. 50 : Capital gains – Depreciable assets – Block of assets – Sale of land with building — Demolition of building — Land alone subject to development — Consideration is only for land S.50 is not applicable .[ S.45 ]

S. 11 : Property held for charitable purposes – Amount paid to employing foreign personnel for imparting education in India, amount set apart for payment in previous year and paid in subsequent year, expenditure of earlier years adjusted against income of current year ,amounts to application of income – When purposes of accumulation is mentioned in Form 10 charitable merely failure to give details — Exemption cannot be denied [ Form 10 ]