S. 80HHC : Export business-Total turnover-Entire turnover of business – Donation for scientific research cannot be excluded. [S.35(1)(ii), 80GGA]

S. 69B : Amounts of investments not fully disclosed in books of account –Addition is held to be not justified solely on the basis of photocopy of agreement between two other persons which was seized during search of third party. [S. 132, 513A]

S. 68 : Cash credits-Capital gains-Sale of property-Part of sale consideration credited in assessee’s account–Addition as income from undisclosed source is held to be justified. [S. 45]

S. 68 : Cash Credits-Source of fund explained–Burden discharged -Deletion of addition is held to be justified.

S. 55A : Capital gains-Reference to valuation officer-Cost of acquisition-Filing valuation report-Refusal to make reference to valuation officer is not proper-Matter remitted to Assessing Officer for reference to valuation officer. [S. 45]

S.28(i) Business income- : Capital Gains-Capital asset-Agricultural land-Purchase lands from land owners, convert them for non-agricultural use and sell them to companies-Property sold was not capital asset- Assessable as business income . [S. 2(14), 45 ]

S. 45 : Capital gains-Capital loss-Loss incurred on account of sale of shares to sister concern-Neither fraudulent nor colourable device-Allowable as capital loss. [S. 260A]

S. 37(1) : Business expenditure-Year of allowability of expenditure-Method of accounting-Rate of tax is same in both assessment years-Question academic-No question of law. [S. 145, 260A]

S. 37(1) : Business expenditure-Capital or revenue-Manufacture of yarn-Replacement of old machinery by purchase and installation of new machinery-Not allowable as revenue expenditure.

S. 37(1) : Business expenditure—Commission paid to persons who have referred the students–Disallowance of 50% of commission is held to be justified.