S. 159 : Legal representatives – Assessment-Assessee is not the legal heir of the deceased – Assessment is held to be bad in law .[ S.142(1), Hindu Succession Act, 1956,S 8, 15 ]

S. 68 : Cash credits–AIR information-TDS difference and reconcile income–Addition cannot be made as cash credits. [S. 194J Form, 26AS]

S. 68 : Cash credits–Share transactions–Accommodation entries-Unaccounted money-denial of exemption is held to be justified. [S. 10 (38), 45]

S. 54F : Capital gains-Investment in a residential house–Payments towards purchase of house property-Deduction is available up to date of filing of return of income prescribed u/s. 139(4). [S. 45, 139(1), 139(4)]

S. 54F : Capital gains-Investment in a residential house–Purchase of flat from builder-Date of allotment to be taken as date of acquisition of property-House consisted of several independent units–Exemption cannot be denied–New house need not be purchased exclusively in the name of the assesee-Invested prior to date of filing of return u/s. 139(4)–Eligible for exemption. [S. 45, 139(1), 139(4)]

S. 54EC : Capital gains-Investment in bonds-Transferable Development Right (TDR)-Acquisition of immovable property is capital asset-Period of holding of TDR was to be calculated from date of acquisition of assessee’s property by municipality. [S 2(14), 43(5), 45, 48].

S. 45 : Capital gains-Taxable in the hands of owner and not in the hands of General Power of Attorney holder. [S. 2(47)]

S. 37(1) : Business expenditure–Ad-hoc disallowance of 10% of total expenses-Books of account not rejected–Submitted the details of expenses-Ad-hoc disallowance is held to be not justified. [S. 145]

S. 271(1)(c) : Penalty-Concealment-Difference of opinion between assessee’s and AO’s view for claim of exemption u/s.47(xiv) on conversion of proprietary concern in to public limited company-Levy of penalty is held to be not valid. [S. 47(xiv)]

S. 268A : Appeal–Revised monetary limits–Applicable to pending appeals and also appeals to be filed. [S. 253]