S. 234B : Interest – Advance tax – Reassessment-Unexplained investment – levy of interest is mandatory [ S.147, 148,234B(3)]

S. 69A : Unexplained money – Documents seized in third party premises in the course of search- No mention of name of assessee in the seized documents -Deletion of addition is held to be justified .[ S.132(4A) ]

S.68: Cash credits-Shares- Purchase of shares held to be genuine – Sale consideration cannot be assessed as assessee’s own unaccounted money [ S.45 ]

S. 50C : Capital gains – Full value of consideration – Stamp – Date of agreement -Registration – Value adopted or assessed or assessable by stamp valuation authority on date of agreement is to be taken for purpose of full value of consideration- The proviso to S. 50C was inserted by the Finance Act, 2016 with effect from 1-4-2017 is prospective in nature. [ S. 2(47)(v)45 ]

S. 36(1)(viia) :Bad debt-Provision for bad and doubtful debts – Schedule bank – A co-operative bank is entitled to claim deduction of bad debts provided in first part of S.36(1)(viia)(a) being 7.5 per cent of total income even in absence of rural branches.

S.10(22): Educational institution- Exemption cannot be denied merely on ground that it was receiving fees from foreigner students in foreign exchange abroad by way of an arrangement with an educational organisation abroad.