S. 80IA : Industrial undertakings-Enhancement of profit-Incidental income arising to electricity distribution company on account of commission on arrears, replacement of burnt metres, inspection fee, reconnection fee, miscellaneous recovery from suppliers etc., which are incidental incomes would be eligible to deduction. [S. 32, 40(a)(ia), 40A(3), 43B]

S. 68 : Cash credits-Sales from Kiran business-Cash deposit in bank account-Failure to produce any material-Addition is held to be justified.

S. 68 : Cash credits-Share capital-Identity and genuineness is established-Deletion of addition is held to be valid.

S. 54F : Capital gains-Investment in a residential house-Invested sale proceeds of old asset in new property before due date of filing belated return and took possession within three years-Entitled to exemption though she had not invested sale proceeds in Capital Gain Account Scheme before due date of filing of return under section 139(1). [S. 45, 139(1)]

S. 45 : Capital gains-Purchase and sale of land-Assessable as capital gains and not as business income. [S. 28 (i)]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Outstanding for more than three years-Addition cannot be made as cessation of liability.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Amendment made to section 40(a)(ia) by Finance Act, 2010 inserting proviso therein would apply retrospectively with effect from assessment year 2005-06.

S. 37(1) : Business expenditure-Wholly and exclusively-Remuneration paid to promoter-Director-Consultation-Allowable as deduction though not attended the office for six years.

S. 37(1) : Business expenditure-Capital or revenue-Hotel business-Renovation and repair of hotel rooms is allowable as revenue expenditure.

S. 36(1)(vii) : Bad debt-Income offered as income-Reduced from asset side of balance sheet-Order was set aside. [S. 36(2)]