S. 50C : Capital gains-Full value of consideration- stamp valuation-The adoption of stamp valuation as the sale consideration is not justified in absence of any evidence that the sale consideration was more than the value shown in the agreement-The AO has not brought on record that the property under sale was not was under various encumbrances and the assessee was having the absolute marketable title of the said property- Addition is held to be not valid.[S. 45]

S. 271D : Penalty-Accepts any loan or deposit–loan received from father – same could be treated as gift and not loan – levy of penalty unjustified.

S. 271(1)(c) : Penalty–Concealment–Depreciation on land-Bona fide mistake -Voluntarily agreed to surrender tax on value of depreciation wrongly taken on land–Levy of penalty is not justified. [S. 32]

S. 263 : Commissioner – Revision of orders prejudicial to revenue – Rental income –Business income –Income from house property-Every loss of Revenue as a consequence of an order of AO could not be treated as prejudicial to interests of Revenue – Revision is held to be not valid. [S.22, 28(i)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO framed assessment as per law-Even if it had resulted in loss to revenue, said decision of AO could not be treated as erroneous and prejudicial to interest of revenue. [S. 153A]

S. 145 : Method of accounting-Cost of construction-Payment only on account of architecture fee-Estimate of value is not justified -Matter remanded. [S. 142A]

S. 80IA : Industrial undertakings–Infrastructure development- while computing deduction loss of one eligible unit shall not be set off or adjusted against profit of another eligible unit.

S. 54 : Capital gains – Profit on sale of property used for residence -More than one house – Amendment brought in S.. 54 to limit the exemption to one Residential unit is applicable from AY .2015-16 on wards. [S. 45]

S. 48 : Capital gains–Computation–Long term capital gains- Indexation–Once factum of construction was accepted then claim of cost of construction could not be rejected out rightly without examining correctness of amount of claim. [S. 45]

S. 9(1)(i) : Income deemed to accrue or arise in India-Business connection-For considering the permanent establishment in Article 5(2)(i) the threshold duration is 9 months-Income is not chargeable to tax in India-DTAA-India–Mauritius. [S. 90, Art. 5(2)(i), 7]