S. 132(4) : Search and seizure-Statement on oath-Presumption as to correctness-Onus on Deponent to prove the contrary-Retraction of statement should be at the earliest with supporting material-Affidavit of mother in law is held to be unreliable as they were interested and self-serving testimonies-Order of Tribunal remanding the matter to the file of CIT (A) is affirmed. [S. 132, 132(4A)]

S. 132 : Search and seizure-Offences and prosecution-Disclosure of information-Police cannot ask the Income tax Authorities to hand over the documents seized by the Income tax Authorities. [S. 138(2), 293, Code of Criminal Procedure, 1973, S. 91, Art. 226]

S. 80P : Co-operative societies-Providing Loans to associate or nominal members-Interest earned-Matter remanded. [S. 80P(2)(a)(i)]

S. 80HHC : Export business-More than one unit-Deduction to be computed unit wise.

S. 68 : Cash credits-Discharged the burden-Expenditure and donation-Disallowance is not justified-Order of Tribunal is affirmed. [S. 37(1), 80G, 260A]

S. 68 : Cash credits-Search-Loose papers-Recovered from third party-Addition is not valid.

S. 68 : Cash credits-Cash deposited in bank-Dematerialisation-Deletion of addition is-Rejection of books of account-Gross profit-Order of Tribunal is up held-Not challenged being perverse-No substantial question of law. [S. 145 (3), 260A]

S. 54F : Capital gains-Investment in a residential house-Amount Deposited in Bank under Capital Gains Accounts Scheme, 1988-Amount Not used in purchase of residential house within specified date-Denial of certificate for withdrawal of amount-Permitted to withdrawal of amount. [S.45, Capital Gains Accounts Scheme, 1988 Art, 226]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Matter remanded to the Assessing Officer-No question of law. [S. 158BC, 158BD, 254(1), 260A]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Fish or fish products-Order of Tribunal is affirmed. [R. 6DD(f)(iii)]