S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Shares as investment-Valued the stock at lower of cost-Matter remanded to the Assessing Officer. [S. 45]

S. 45 : Capital gains-Business income-Dealing in land-Industrial building-Outright purchase and sale-Assessable as short term capital gains and not as business income-Question of fact. [S. 28(i), 260A]

S. 37(1) : Business expenditure-Real estate business-Forfeiture of advance-Allowable as business expenditure. [S. 28(i), 45]

S. 268A : Appeal-Monetary limit-Audit objection-Dismissal of appeal on account of below monetary limit is held to be not valid. [S. 254(1)]

S. 268A : Appeal-Lower than monetary limit fixed by Circular-Appeal was less than monetary limit of Rs. 10 lakhs fixed by CBDT Circular No. 21/2015, dated 10-12-2015.

S. 268A : Appeal-Monetary limit-Lower than monetary limit fixed by Circular No. 3/2018 dated 11-7-2018-Appeal was same was dismissed. [S. 80IB(10), 271(1)(c)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO had taken a plausible view-Merely on ground that enquiry conducted by AO was inadequate revision is held to be not valid. [S. 14A]

S. 254(1) : Appellate Tribunal-Duties-Transportation charges-cryptic order-Matter remanded. [S. 37 (1)]

S. 249 : Appeal-Commissioner (Appeals)-Form of appeal and limitation-Condonation of delay of four months-Pendency of rectification application-Matter remanded to the file of the CIT(A). [S. 154, 250, Art. 226]

S. 249 : Appeal-Commissioner (Appeals)-Payment of admitted tax-Unless and until, assessee has paid income tax due on income returned by him, no appeal under Chapter XX will be admitted. [S. 249(4)(b)]