S. 57 : Income from other sources-Deductions-Brokerage to broker-Refund of investment (Principal amount and interest)-Cancellation of project-No bifurcation or split of this expenditure relating to recovery of principal and recovery of interest-Proportionate disallowance under section 57(iii) of brokerage expenses relating to principal amount is not justified.[S. 56, 57(iii)]

S. 56 : Income from other sources-Premature surrender of pension policies-No deduction was claimed under section 80CC-Matter remanded to Assessing Officer to examine eligibility of proceeds from surrender of policy for exemption under section 10(10D). [S.10(10D),80CC(1), 80CC(2), 143(1), 147, 148]

S. 54F : Capital gains-Investment in a residential house-Ownership of property-Sale of ancestral property-Invested in for construction of a residential house on a plot of land which was in name of her husband-Eligible for exemption. [S. 45]

S. 54F : Capital gains-Investment in a residential house-Purchase of two adjacent flats-Revised plan-Used as a single unit-Entitle to exemption. [S. 45]

S.54F : Capital gains-Investment in a residential house-Sale of vacant land-Purchase of house property-Time limit-Delay in registration-Beyond prescribed time limit of 24 months-Denial of exemption is not valid.[S.45]

S. 54 : Capital gains-Profit on sale of property used for residence-declared income under head business or profession-No declaration of capital gains-Denial of exemption by the AO, which is up held by the CIT(A) is affirmed. [S. 28(i), 54F, 143(1)]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Transfer of tenancy rights-Permanent alternate accommodation-Provisions of section 50C would not apply in case of transfer of tenancy rights. [S. 45(1)]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Fes for technical services-Sales commission-Not liable to deduct tax at source-DTAA-India-USA.[S. 195, Art. 12]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Commission-Export commission to non-residents agents for services rendered outside India is not liable for withholding tax and, therefore, no disallowance could be made-7 of OECD model convention. [S. 9(1)(i), 195]

S.37(1): Business expenditure-Part of bad debt-Capital expenditure-Alternative claim-Matter remanded to remanded to Commissioner (Appeals) to verify and consider said claim-Disallowance on staff welfare, marketing, conveyance, travel, and miscellaneous expenses is restricted to 10%. [S.36(2)]