S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-Sale of flats with customer prior to 1-4-2013-Sale deed was executed after 1-4-2013-Provision is applicable [S. 50C]

S. 43B : Deductions on actual payment-Late deposit of employee contribution towards ESIC/EPF-Payment was made before due date of filing of return-Allowable as deduction-CIT (A) was not justified in denying deduction by relying upon non-jurisdictional High Court’s decision. [S. 36(1)(va), 144B, 250]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Purchases-Not claimed as expenditure-Matter remanded.

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Advance against sale of property-Continued to remained as liability in the balance sheet-Addition cannot be made as cessation of liability.

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Real estate developer-Purchase of agricultural land-Disallowance was held to be not justified. [R. 6DD(e)(i)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Pond and farm maintenance expenses-No evidence was produced to prove that the payments had been made to cultivator, grower or produced-Disallowance was confirmed. [R. 6DD(e)]

S. 40(b)(iv) : Amounts not deductible-Partner-Interest-Pro-rata basis-Average opening and closing balance. [S. 36(1)(iii), 37(1)]

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Education cess-Allowable as deduction [S.37 (1)]

S. 40(a)(ii) : Amounts not deductible-Rates or tax- Education cess and, higher and secondary education cess is not tax-Allowable as deduction. [S. 37 (1)]

S. 37(1) : Business expenditure-Dividend distribution tax-Not allowable as deduction.