S. 54B : Capital gains-Land used for agricultural purposes-Exemption not allowed as the assessee is not owner of property sold-No computation of capital gain in assessee’s hands-Matter remanded to verify the extinguishment of rights in the property and to assessee the capital gains. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Assessee sold two house properties and purchased one property with the proceeds of both-Entitle to exemption. [S. 45]

S. 48 : Capital gains-Computation-Sale of ancestral property-capital gain shall be calculated by taking amount received towards extinguishment of his right in the property-Matter remanded. [S. 45]

S. 43B : Deductions on actual payment-Not claimed any deduction on account of service tax payable-Disallowance is held to be not justified.

S. 43B : Deductions on actual payment-Service tax-Neither included this amount of service tax in the turnover/revenue receipts-nor claimed as deduction in the profit and loss account-No disallowance can be made.

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Not commenced business-Not trading liability-Nothing to show the liabilities ceased to exist.

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Premature payment-Sales tax-Not remission or cessation of Government liability-Provision for bad debt-Not claimed as deduction written back-Addition is not valid.

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-No compelling circumstances brought on record-Disallowance is held to be justified.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment to Tribal persons-Payments are not chargeable to tax-No disallowance can be made. [S. 10(26), 194C, 194I]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Sales rebate-Discount-No element of work as defined under clause (iv) of Explanation to Section 194C of Act-Not liable to deduct tax at source-No disallowance can be made. [S. 194C, 194H]