S. 80IC : Special category States-Substantial expansion-Initial assessment year-Previous year in which substantial expansion undertaken would became initial assessment year-Entitled to 100 Per Cent. deduction from that assessment year subject to maximum period of ten years.

S. 80IB(10) : Housing projects-Completion certificate-Application for issuance of certificate and fees was paid within time specified-Delay in issuance of certificate by Municipal corporation-Occupancy certificate deemed to have been issued-Entitle to deduction-Project for which building completion application was made 4-7-2014, schedule date of completion was 31-3-2014-Denial of exemption was justified-Entitle to deduction in respect of flats not exceeding area of 1500 Sq. ft-Delay in filing the appeal was condoned. [S. 254(1)]

S. 69 : Unexplained investments-Cost of construction of residential property-Amount spent from out of salary savings-Addition was held to be not justified.

S. 69 : Unexplained investments-Bogus purchases-Purchase and sale of diamonds-Report of investigation wing-Addition of 100 percent of total transactions was deleted, only addition of Rs. 20,000 was confirmed. [S. 143(3)]

S. 68 : Cash credits-Creditors for purchases-Sales made accepted-Payment made in subsequent year was accepted-Books of account not rejected-Addition cannot me made merely because there was increase in creditors.

S. 68 : Cash credits-Creditors-Confirmation and ledger copy was produced-Outstanding balance was written back and offered as income in latter years-Addition was deleted.

S. 68 : Cash credits-Creditors withdrawing and depositing in the bank account of the assessee-Addition cannot be made as cash credits.

S. 68 : Cash credits-Share capital and share premium-Books of account not produced-Matter remanded before CIT(A).

S. 68 : Cash credits-Penny stock-Long term capital gains-Sale of shares-Broker on SEBI watchlist-Addition was deleted. [S. 10(38), 45]

S. 68 : Cash credits-Long term capital gains-Opportunity of cross examination was not given-Denial of exemption was not justified-Estimate of expenses was also deleted-Additional evidence was admitted. [S. 10 (38), 45, 69C, 132(4), ITAT R. 29]