S. 28(va) : Business income-Cash or kind-Under an agreement-Non-compete fees-Capital or revenue-Non-compete fees received for the period prior to AY 20217-18 are to be treated as capital receipts and not to be charged under S. 28(va). [S.4]

S. 28(i) : Business loss-Survey-Client code modification-Information from Investigating agency-Loss in share trading-Misuse of client code modification to book losses to evade tax-Failure of the assessee to establish that he was not involved in Client Code Modification-Disallowance of loss is justified. [S.133A, 148]

S. 28(i) : Business loss-Business expenditure-Money embezzled by director-CIT(A) accepted loss but denied deduction for want of details-AO to verify recovery and allow balance of loss.[S. 37(1)]

S. 28(i): Business loss-Purchase and sale of shares-Scripts manipulated by third parties-No adverse findings against assessee-Assessee made transactions in good faith-Loss not bogus-Loss allowed.

S. 28(i) : Business Income-Deduction of tax at source-Difference between receipts stated in form 26AS and income shown in profit and loss account cannot be brought to tax in the hands of the assessee.[S. 145, Form No 26AS]

S. 28(i) : Business income-Interest on FDRs-Pledge fixed deposit receipts (FDRs) as margin with the bank-Interest income assessable as business income-High sea sale.[S.43(5)]

S. 28(i) : Business income-Agricultural income-Apportionment AO is directed to recompute disallowance and only 40% amount to be added to business income. [S. 2(24)(x), 36(1))(v),R. 8(1)]

S. 23 : Income from house property-Annual value – Stock in trade-No addition can be made on account of deemed rent on unsold flats held as stock in trade. [S. 22, 23(4), 23(5)]

S .23 : Income from house property-Annual value-No deemed or Notional Rental Income for the properties held as Stock in Trade.[S. 22, 23(5)]

S. 22 : Income from house property – taxed as house property for many years-No change in facts-Cannot be treated as income from business and profession. [S.28(i)]