S. 80P : Co-operative societies-Return filed after due date-Deduction cannot be denied.[S. 80AC, 139(1), 143(1)(a)(ii), 143(1)(a)(v)]

S. 80IE : Undertakings-North-Eastern states-Belated return-Deduction is not available. [S.80AC, 139(1)]

S. 80IB : Industrial undertakings-Eligible business-No adjustment could be made in respect of expenses relating to other undertaking while computing deduction-Mineral oil, for purpose of claiming deduction under section 80-IB(9) includes natural gas and condensate and therefore profit derived from sale of natural gas and condensate was to be allowed as deduction under section 80IB(9). [S.80IA(5),80IB(9)]

S. 80G : Donation-Approval-Commissioner cannot impose condition while granting approval.[S. 12A, 80G(5)]

S. 69A : Unexplained money-Additional evidence-Reconciliation statement is filed-Matter remanded to the Assessing Officer.[Form NO. 26AS]

S. 68 : Cash credits-Cash received deposited in bank account-Turn over is not disputed-Addition is deleted.

S. 68 : Cash credits-Capital gains-Long term capital gains on sale of shares-Penny stock companies-Failed to establish genuineness of rise of price of shares within a short period of time that too when general market trend was recessive-Addition is affirmed.[S. 10(38), 45]

S. 56 : Income from other sources-Gift from uncle-Constructive gift from uncle-Addition is deleted.[S. 56(2)(vii), 68]

S. 56 : Income from other sources-Valuation of shares-Premium-DCF method-Minor difference in projected and actual financials-Rejection of DCF method adopted is unjustified.[S. 56(2)(viib )

S. 56 : Income from other sources-Stamp duty-Valuation report-Difference between DVO value and consideration paid for purchase of property was to be assessed as income of purchasers in terms of section 56(2)(vii)(b) of the Act. [S. 56(2)(vii)]