S. 56 : Income from other sources-Shares issued at premium-Valuation report from Chartered Engineer-Report was not filed at the time of original assessment proceedings however the report was filed before Commissioner (Appeals)-Addition was held to be not justified. [S. 56 (2)(viib), Rule, 11UA]

S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Payment of commission to agent for purchase of property is allowable as deduction-Cost of construction to developer is to be treated as full value of consideration-Received his share and allotted constructed area-Taxable in the assessment year 2012-13. [S. 2(47), 45, 48]

S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Bombay stock exchange membership card-Indexation of card to be taken from the year 2005-06. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence More than one house-Prior to 1-4-2015-Eligible exemption. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Sale consideration paid to purchase of another residential property prior to due date of filing of return-Entitle to exemption-Purchase of property-Entire consideration was paid for booking flat with in three years from date of transfer of original asset-Entitle to exemption. [S. 139(4)]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Agreement for sale on 8-3 1993-Possession was handed over-Sale deed was executed on 9-3 2007-For computing guidance value of property value as on 8-3-1993 i.e. date of sale agreement to be considered and not value as on 9-3 2007. [S. 2(47), 45]

S. 45 : Capital gains-Date of sale agreement and date of registration-Capital gain is taxable in the year of sale agreement and not in the year of registration. [S.50C Indian Registration Act, 1908, S. 47]

S. 45 : Capital gains-Business income-Purchase and sale of shares-No repetitive purchase and sale of shares-Profits assessable as short term capital gains. [S. 28(i)]

S. 45 : Capital gains-Failure to make full consideration-Sale deed was cancelled-Capital gains cannot be assessable. [S. 2(47)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchase of plots as stock in trade-Disallowance is held to be justified. [R. 6DD]