S. 56 : Income from other sources-Interest on Government grants-Assessable as income from other sources-Delay of 364 days-SLP of assessee is dismissed on ground of delay [Art. 136]

S. 45 : Capital gains-Development agreement with a builder for constructing residential flats on a sharing basis-Transfer-[S. 2(47)(v), Transfer of Property Act, 1882, S.53A]

S.43B: Deductions on actual payment-Converted interest due to equity shares-Tantamount payment-Entitled to deduction.

S.43B: Deductions on actual payment-Provision for leave salary-Not allowable as deduction.[S.43(f)]

S.43B: Deductions on actual payment-Leave encashment-Liability to pay leave encashment was neither accrued nor paid during relevant accounting year but in year 2004 to 2016-Not allowable as dedcution. [S. 43B(f), 139(1), 260A]

S. 43B : Deductions on actual payment-liability on account of electricity duty payable-Set off against allotment of equity shares-Amount discharge of liability-No disallowance can be made. [S. 37(1), 260A]

S. 43(5) : Speculative transaction-Trade in derivatives-Recognised stock exchange-Business loss-Allowed to be set off against profits and gains of business-Order of Tribunal is affirmed. [S. 72, 73, 260A]

S. 37(1) : Business expenditure-Contribution to its employees under Provident Funds-No disallowance can be made on the ground that it was not made to reccignised Provident Fund [S. 260A, Providents Funds Act, 1925]

S. 32 : Depreciation-Unabsorbed depreciation-Allowed to be carried forward and set off after a period of eight years from assessment year 1997-98, without any limit. [S.32(2)]

S. 22 : Income from house property-Co-owner-Joint owenership-Annual letting value-No specification of their respective shares in deed-Mere signing of instrument of conveyance by an individual does not raise any presumption of income being assessed in hands of such individual-Order of Tribunal affirming the Annual letting value at 8 per cent of cost of property was deleted. [S. 23(1)(a), 26,27, 260A]