S. 80G : Donation-Statutory body created under Sikh Gurudwara Act, 1925-Religious purposes-Engaged in numerous charitable activities like running School, colleges, Medical colleges, Hospitals, Library, Sarai, Lunger, flood relief camps etc.-Entitle to benefit under section 80G(5)(iii) of the Act. [S. 80G(5)(iii)]

S. 74 : Losses-Capital gains-Security transaction tax-Loss from sale of long term capital asset-Allowed to be carried forward for set off though long term capital asset is exempt. [S. 10 (38), 45]

S. 69A : Unexplained money-Cash credits-Amounts deposited in the bank-Cash withdrawal and redeposit-Sale of computer parts-Explanation was not satisfactory-Addition was held to be justified-Addition on account of salary was held to be not justified. [S. 68]

S. 69C : Unexplained expenditure-Bogus purchases-Addition was restricted to 6% of alleged bogus purchases. [S. 133(6)]

S. 69C : Unexplained expenditure-Bogus purchases-Search and seizure-Incriminating materials belongs to company-Addition in the assessment of the director was deleted. [S. 132]

S. 69A : Unexplained money-Immoveable property-Purchase of property jointly with wife-Stamp valuation-Paid by wife-Addition was held to be not justified. [S. 148]

S. 69 : Unexplained investments-Purchase of immoveable property-Source of investment is not doubted-Addition is held to be not valid.

S. 69 : Unexplained investments-Benami transaction-Purchased land for 1.59 crores and sold for Rs.1.62 crores-Land was transferred for taking care-Addition was deleted-Assessing Officer directed to make in depth investigation. [S. 147, 148]

S. 68 : Cash credits-Gifts-Identity and creditworthiness was established-Addition was held to be not justified.

S. 68 : Cash credits-Foreign bank account of deceased father-Information from investigation wing-Failure to provide certified copy of bank account and bank statement-Addition was deleted-Remanded with specific direction to provide certified copy of bank statement and nexus with bank deposits. [S. 5(1)), 147, 148]