S. 69 : Unexplained investments-Investment was not satisfactorily explained – Addition is held to be proper. [S. 69A]

S. 68 : Cash credits-Amount outstanding for six years—Addition cannot be made for the relevant accounting year.

S. 68 : Cash credits—loan from wife-Cash was deposited on the same day that cheque for that amount was issued- Addition is held to be justified.

S. 68 : Cash credits — Gifts —Overseas transactions through Bank conclusive proof- Credit worthiness of donor is required to be proved.

S. 36(1)(viia) : Bad debt-Provision for bad and doubtful debts – Schedule bank-Allowable only to the extent statutorily prescribed.

S. 10B : Export oriented undertakings–Manufacture-Cutting and polishing of diamonds amounts to manufacture—Entitled to exemption.

S. 10B : Export oriented undertakings–Manufacture- Purchase of semi-finished garments and making them export worthy-Constitute manufacture – Entitle to exemption.

S. 272A : Penalty – Delay in filing quarterly TDS returns- Tax deducted was deposited in time – Filing of TDS return was delayed in initial years of switch-over from manual system in a e-filing of quarterly TDS returns due to several technical glitches in working of revenue’s server- Levy of penalty is held to be not justified .[ S. 272A(2) (K),273B ]

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) ]