S. 69 : Unexplained investments-Income Surrendered during survey proceedings on account of undisclosed debtors is business income and not deemed income-assessee entitled to set off of business loss against such surrendered income. [S. 28(i), 69B, 133A]

S. 68 : Cash credits-Public issue–Global depository receipts-Failure to produce bank statement of investors–Addition cannot be made. [S. 132]

S. 68 : Cash credits-Share Application money-Assessee incorporated in preceding assessment year and receiving share application money in instant assessment year-No unaccounted money can be invested by assesse-investors examined on oath not subjected to cross-examination by assesse-Addition is held to be not justified-Creditor denying the outstanding balance–Addition is held to be justified.

S. 54 : Capital gains-Purchase of residential property at Dubai-No condition that investment to be made in India during year 2014-15-Entitled to exemption. [S. 45]

S. 45 : Capital gains-Penny stock–Capital gains cannot be assessed as cash credits-AO failed to bring on record any part of report wherein name of assessee or his broker been named–No action was taken by SEBI against the share broker or against the assessee-Entitled to exemption. [S. 10(38), 54F, 68]

S. 43B : Certain deductions on actual payment-Provision towards gratuity, leave salary, bonus and medical aid of retired staff-not necessary that actual payment had to be made-Deductible. [S. 40A(7)(b)(i)]

S. 43A : Rate of exchange-Foreign currency-Provisions are applicable for loss arising on foreign exchange fluctuations only where the capital assets are acquired from outside India-Assets were purchased in India-Loss on foreign exchange is allowable as deduction. [S. 37(1)]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-waiver of loan taken by assessee for business purposes-amount returned to profit and loss account-Assessable as business income. [S. (24), 28(iv)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment to film distributors for purchase of films for exhibition-Not liable to deduct tax at source-No disallowances can be made. [S. 9(1)(vi), 194J]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payments liable to deduction of tax at source-Brand charges-Whether recipient of brand charges paid taxes-Assessing officer to verify documents filed by assesse-Matter remanded.