S. 50 : Capital gains – Depreciable assets – Block of assets – Expenditure incurred on account of stamp duty , registration charges and society transfer fee , as per contractual terms is an allowable expenditure [ S.45, 50(1)(i) ]

S. 44AD :Presumptive taxation- Once business income is offered on the presumption taxation , separate addition cannot be made as cash credits [ S.68 ]

S. 44AD :Presumptive taxation- Presumptive taxation is not applicable to interest and remuneration received by a partnership firm [ S.28(v), 40(b) ]

S. 37(1) : Business expenditure – Provision made for site restoration is a contingent liability – Allowable as deduction on the principle of commercial expediency .[ S.145 ]

S. 37(1) : Business expenditure – Discount in issue of ESOP is an allowable deduction – Contingent liability .[S.4, 143(3) 145, Companies Act , 1956 , S. 2(15A) ]

Interpretation -Natural Justice – There is a clear distinction between cases where there was no hearing at all and the cases where there was mere technical infringement of the principle

Interpretation -Natural Justice – There is a clear distinction between cases where there was no hearing at all and the cases where there was mere technical infringement of the principle

S. 245C : Settlement Commission – Second application – No bar for filing second application [ S. 245D(1), 245K(2), Art , 226 ]

S. 69 :Unexplained investments – HSBC Bank -Black Money- Burden is on revenue to prove that money belongs to the assessee- Mere holding a joint bank account does not mean that the money belongs to the assessee- Addition is deleted [ S.69A ]

S. 68 : Cash credits- Source of source – Cash deposited – Brother in law and close friends – How money was transferred from Bangalore to Goa was not satisfactorily explained – – Addition is held to be justified .[ S. 153A ]