S. 70 : Set off loss-One source against income from another source-Same head of income-Loss from for eligible for exemption could be set off other unit which was not eligible for exemption under same head of income.

S. 69C : Unexplained expenditure-Seized material-Department not provided the details of transaction-Deletion of addition is held to be justified-No question of law. [S. 132, 260A]

S. 68 : Cash credits-Bogus purchases-Trading in ferrous and non-ferrous metal-Stock register produced-Deletion of addition is held to be justified-No question of law. [S.260A]

S. 68 : Cash credits-Purchase of scrap-Recalling the order is held to be justified-Deletion of addition is held to be justified. [S. 133(6), 254(2)]

S. 68 : Cash credits-Long term capital gains from equities-Penny stock-Tribunal-Duties-Tribunal was not justified in remanding the matter to the Assessing Officer-Order of CIT(A) confirming the addition was affirmed-Order of Tribunal set aside. [S. 10(38), 45, 254(1)]

S. 57 : Income from other sources-Deductions-Interest paid on loans from relatives-Matter reamended. [S. 57(iii)]

S. 54EC : Capital gains-Investment in bonds-Amendment Restricting the investment to 50 lakhs is prospective in nature [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Amount spent on construction-Mere non compliance of a procedural requirement, exemption should not be denied-Order of single judge is affirmed by division Bench. [S.45, 54(2)]

S. 43(1) : Actual cost-Financial assistance for rehabilitation of tsunami damaged roads and bridges, ports and harbours-Interest free loan-Not to be reduced from actual cost. [S.32, 43(1), Explanation 10.]

S. 41 (2) : Profits chargeable to tax-Business loss-Balancing charge-Block of assets-Winding up-Sale value less than written down value-Allowable as business loss. [S. (2(11), 28 to 44DB, 50]