S. 68 : Cash credits-Agriculturist-Cash deposited-Sale deed-Matter remanded-Tax authorities should not take an easy route and place an impossible burden upon assessee-Duty of tax authorities to assist tax compliance which means giving correct advice and following best practices and to attempt collecting tax on basis of ignorance of citizen is not expected from a tax administration. [S.119]

S. 54F : Capital gains-Investment in a residential house-One house-Property was acquired for Metro Rail Project compensation paid within a period of one year-Purchase of two different houses-Not entitle to exemption. [S. 45, 54, 54F(1)(ii)]

S. 54 : Capital gains-Profit on sale of property used for residence-Construction of house within period of three years from the transfer of original asset-Non availability of occupation certificate cannot be the ground to deny the exemption. [S. 45]

S. 45 : Capital gains-Transfer-Sale agreement registered on 26-8-2011 and possession was also handed over on the said date-Capital gains assessable in assessment year 2012-13. [S. 2(47), 54F]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Transportation charges-Hiring cabs from cab owners-Liable to deduct tax at source-Payment made to petrol pumps not liable to deduct tax at source. [S. 194C]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Commission payment-Mere rendering of service of procurement of export orders by a non-resident company for Indian company does not fall in category of managerial/consultancy services-Not liable to deduct tax at source-DTAA-India-Japan. [S. 40(a)(1), 195]

S. 28(i) : Business loss-Trading activities in stock and commodities-Provision for loss mark to market loss on trading in derivative-Allowable as business loss. [S. 37(1)]

S.14A : Disallowance of expenditure-Exempt income-Net interest could be disallowed-Book Profit-Computation under clause (f) of Explanation 1 to section 115JB(2) is to be made without resorting to computation as contemplated under section 14A read with rule 8D. [S. 115JB, R. 8D]

S.14A : Disallowance of expenditure-Exempt income-Interest free funds is more than investments made-No disallowance of interest can be made-Administrative expenses-Disallowance is restricted only to investments giving rise to exempt income. [R. 8D]

S. 11 : Property held for charitable purposes-Exemption denied and income assessed as income from other sources-All incidental expenditures laid out by assessee wholly or exclusively for purpose of making or earning such income were also to be allowed under section 57(iii). [S. 10(23C)(iiiab), 12A, 12AA, 57(iii)]