S. 80IA : Industrial undertakings-Eligible business-Deduction to be computed unit-wise and not business as a whole-Manufacture-Processing and marketing of seeds-Raw seeds undergoing various processes-Amounts to manufacture or production of articles or things. [S. 80IA(2), 80IA(5), 80IA(7)]

S. 80HHC : Export business-Income earned from leasing of plant and machinery-Not export turnover-Not eligible deduction. [S. 80HHC (2)(b)(i)]

S. 69 : Unexplained investments-Excess stock during search-Books of account was incomplete-Retraction of statement-Deletion of addition was held to be justified [S. 132, 132(4)]

S. 50B : Capital gains-Slump sale-Depreciable assets-Block of assets-Sale of undertaking-Sale consideration is not liable to be taxed as short term capital gains. [S. 2(11),2(42C) 45, 50]

S. 50B : Capital gains-Slump sale-Entire business of the undertaking was transferred to subsidiary-Order of Tribunal assessing the amount as slump sale is affirmed. [S. 2(11), 2(42C), 45, 50]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment to contractor without deduction of tax deduction at source-Disallowance is held to be proper. [S. 12AA, 13(1)(c), 234A, 234C]

S. 37(1) : Business expenditure-Disallowance of part of expenditure-Based on facts-No question of law. [S. 260A]

S. 37(1) : Business expenditure-Method of accounting-Incentive scheme announced to distributors and dealers-Liability arises upon announcement-Not a contingent-Ascertained liability-Allowable as deduction. [S. 145]

S. 37(1) : Business expenditure-Provision on account of leave encashment-Not contingent liability-Allowable as deduction.

S. 36(1)(iii) : Interest on borrowed capital-Unity control and management-Order of Tribunal is affirmed.