S. 80-IC : Special category states-Substantial expansion-Initial assessment year-Since there was an inordinate delay of 412 days in filing review petition which had not been satisfactorily explained, review petition was dismissed on ground of delay as well as on merits. [Art. 136]

S. 80-IC : Special category states-Entitle to 100% deduction- Order of High Court allowing only 25 % deduction is set aside.[Art. 136]

S. 69C : Unexplained expenditure-Bogus purchases-No discrepancy between purchases and sales shown -Entire purchase cannot be added-Order of High Court dismissed the appeal of the revenue is affirmed.[S. 260A]

S. 69C : Unexplained expenditure-Bogus purchases-No disccrpency between purchases and sales shown -Entire purchase cannot be added-Order of High Court dismissed the apepeal of the revenue is affirmed-SLP delay of 606 days-SLP of revenue dismissed on account of delay as well as on merits. [S. 268A, Art. 136]

S. 69B : Amounts of investments not fully disclosed in books of account -Survey-Shortage of closing stock of finished goods and raw material-Sales outside books of account- The contention of the assessee that only GP should be added was rejected-On writ High Court affirmed the order of the Commissioner. [S. 264, Art. 226]

S. 68 : Cash credits-Sale of shares-Information received from investigation wing- Sold through recognised stock exchange-Paid Security transaction- Delay of 292 days-SLP dismissed-Delay was not satisfactorily explained. [S. 10(38), 45, Art. 136]

S. 56 : Income from other sources -Share premium- DCF method-Order of Tribunal deleting the addition is affirmed. [S. 56(2)(viib), R 11UA(2), 260A]

S. 48 : Capital gains-Computation-Purchase and sale of shares-Sham transactions-Set off of short term loss against short term capital gains-Order of Tribunal disallowing the loss is affirmed.[S. 45, 260A]

S. 40A(2): Expenses or payments not deductible-Excessive or unreasonable-Tribunal was justified in holding that expenses claimed by assessee were not excessive and disallowance of assessee’s claim was unsustainable-SLP of revenue dismissed-DTAA -India -Italy. [S. 9(1)(i), Art. 7, Art. 136]

S. 37(1) : Business expenditure-Capital or revenue-Redemption of debentures- Allowable as revenue expenditure -SLP of revenue dismissed. [Art. 136]