S.68 : Cash credit -Share capital- Manipulated accounts by way of bogus/fictitious entries, transactions did not involve actual cash inflow, it was unrealizable for assessee to discharge onus of establishing identity and creditworthiness of parties and genuineness of transaction, addition cannot be made as cash credits – maxim is “Lex non cogitadimpossibilia” – theory of impossibility of performance applied – Addition was deleted .

S. 54F : Capital gains – Investment in a residential house – Joint Ownership cannot come in way of claiming exemption [ S.45 ]

S. 50C : Capital gains – Full value of consideration – Stamp valuation – Addition cannot be made under section 50C on the transfer of leasehold rights in land or building.[ S.45 ]

S. 50C: Capital gains – Full value of consideration – Stamp valuation – Sale Consideration – Third proviso- Retrospective- Difference between the stated consideration vis -a -vis stamp duty valuation is less than 10 % of the stated consideration , section 50C is not applicable . [ S.45 ]

S. 45: Capital gains – Transfer – Development agreement -No real development took place till date – Matter restored to AO to decide the capital gains after verifying whether the possession is taken back by the assessee or not and the assessee cancelled the development agreement or not.[ S.2(47) (v)]

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits – purchase of lands from farmers – Disallowance deleted. [ R.6DD]

S. 40(a)(ii) : Amounts not deductible – Rates or tax – Business expenditure – deduction for foreign taxes paid allowed while computing its income, to the extent that such tax was not entitled to the benefit of section 91 of the Act.[ S.37 (1), 91 ]

S. 37(1) : Business expenditure – expenditure on implementation of a new software package – Allowable as revenue expenditure.

S. 37(1) : Business expenditure-expenditure incurred on affixing adhesive stamps on conveyance deed-held, it is revenue expenditure-provision for warranty-provision for present obligation due to past event-not a contingent liability-expenditure allowed-Depreciation on goodwill and customer contracts-held in nature of intangible assets, therefore eligible for depreciation [ S. 32. ]

S. 36(1)(iii): Interest on borrowed capital –Interest free advances made-availability of sufficient own funds- addition deleted by the Tribunal-delay in payment to the account of Provident Fund-disallowance upheld-delay in pronouncement of order by the Tribunal-90 days period should exclude at least the lockdown period. [ S.254 (1), ITAT R. 34(5)]