S. 45 : Capital gains-Joint development agreement-General power of attorney-Possession and complete control of share of property-Part performance of contract-Transfer complete on handing over possession and not on date of Registration-Exemption for reinvestment of consideration is eligible. [S. 2(47)(v), 50C, 54G, Transfer of Property Act, 1882, S. 53A]

S. 44BB : Mineral oils-Presumptive tax-Amount received on account of equipment lost in hole-Reimbursement of service tax-Not to be included in gross receipts for computation of profits for purpose of presumptive tax.

S. 43B : Certain deductions only on actual payment-Interest payable to Government of India is crystalized based on facts, even though not accounted in books due to comments of statutory auditor, and hence is allowed as expense on accrual basis even not accounted for in books. [S. 145]

S. 43B : Deductions on actual payment-Service tax liability-Not claimed as deduction-Outstanding service tax liability not liable to be added.

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Education Cess-Allowable as deduction-Transfer pricing adjustment-Matter remanded. [S. 37(1), 92C]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contractor-Disallowance section is not warranted where the payee furnishes the return of income taking into account the sum(s) received from the payer, tax due on the return income has been paid and certificate of a Chartered Accountant to that effect has been furnished. [S. 194C]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Running infertility clinic carrying out in vitro Fertilisation-Payee not maintaining proper accounts-Disallowance is held to be justified. [S. 194C]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Fes for technical services-Payment per head is not in excess of threshold limit-Not liable to deduct tax at source [S. 91(1)(vii), 194J]

S. 37(1) : Business expenditure-The expenditure necessary to maintain Assessee’s corporate personality would be an allowable expenditure even when no business was undertaken.

S. 37(1) : Business expenditure-Interest for delayed payment of service tax-Allowable as deduction-Remanded for verification.