S. 56 : Income from other sources-Interest income-Lending to members-Only the expenditure attributable to earning of interest income is allowable-Issue which was not examined in first round of litigation is cannot be raised in second round of litigation. [S. 57.80P(2)(a)(i)]

S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Sale of property-Non-Resident-Fair market value as on 1-4-2001-Valuation on the basis of approved Government Valuer-Assessing Officer is directed to adopt fair market value of property on the basis of as determined by Registered valuer. [S. 48, 144C(7)(a), 144C(7)(b)]

S. 45: Capital gains-Long-term capital gains-Purchase and sale of shares-Penny stock-Matter remanded to the Assessing Officer. [S. 10(38)]

S. 45 : Capital gains-Compulsory acquisition of land by National Highways Authority of India-Compensation-Entitle to exemption. [S. 4] Right to fair compensation and transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013,S.96 S. Circular No. 36 Of 2016, Dated 25-10-2016 (2016) 388 ITR 48 (St)

S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-Difference between sale value and stamp value is below threshold margin of 10 Per Cent-Addition is deleted. [S.50C]

S. 90 :Double taxation relief – Capital gains – Mutual fund Units – Singapore resident – Sale/redemption of mutual fund units would be covered Article 13 of DTAA – Not taxable in India – DTAA – India – Singapore. [ Art. 13(4), 13(5) ]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Goods purchased from brother-Writing off dues as personal help-Liability ceasing to exist on written off by creditor in his books-Addition is justified.

S.37(1): Business expenditure-Ad-hoc disallowance-Salary-business promotion expenses, commission,miscellaneous expenses, service and maintenance expenses, telephone,-Repair to building-Books of account not rejected-Disallowance is deleted. [S. 143(3)]

S. 37(1) : Business expenditure-Method of accounting-Completed-contract method-Books of account not rejected-Expenditure on completed project for defects and finishing allowable.[S. 145(3)]

S. 37(1) : Business expenditure-Transport and hiring charges-Deletion of ad-hoc disallowance of 10 per Cent is affirmed and disallowance of 2% on account of wage and labour charge is affirmed.