S. 45 : Capital gains-Right to sue-Amount received as per consent decree in the suit for specific performance of agreement to sell-Arrangement amongst the parties-Not relinquishment of any right in favour of partners-Not assessable as capital gains.[ S. 4, 2(14)]
S. 45 : Capital gains-Additional evidence-Transfer-Development agreement-Possession of land was not handed over-Encroachment in land-Matter remanded to the Assessing Officer.[ S. 2(47), 254(1)]
S. 45 : Capital gains-Business income-Sale of shares-Shown as investment-Assessable as capital gains and not as business income.[ S. 28(i)]
S. 45 : Capital gains-Penny stock-Purchase and sale through banking channel-Addition as cash credit is deleted.[ S. 10(38)) 68,]
S. 44 : Insurance business-Depreciation-Allowable to insurance company. [ S. 30 to 43B]
S. 40(a)(ia): Amounts not deductible-Deduction at source-Provision for various expenses-Not in apposition to identify the parties /creditors-Provisions which were made on estimate basis were reversed in month of April i.e. in subsequent financial year and that when payments were made based on actual invoices, tax was deducted at source as per provisions of Act-Disallowance is deleted. [ S. 145]
S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Payment of re-insurance premium foreign insurers-Foreign Insurance company has no business or branch in India-No violation of provisions of Insurance Act-No obligation to deduct tax at source. [ S.9(1)(i), 195]
S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Royalty-Advertisement agency-Website owner-Not royalty-Not liable to deduct tax at source-DTAA-India-Ireland.[ S. 9(1)(vi), 195, art.12]
S. 37(1) : Business expenditure-Company-No personal-Vehicle running expenses-Depreciation-Telephone and mobile expenses-Disallowance cannot be made on account of personal use-Employees contribution-Paid before due date of filing of return-Allowable as deduction. [ S. 32(1)(ii),36(1)(va), 139(1)]
S. 37(1) : Business expenditure-Service charges paid to group company-Allowable as revenue expenditure.