S. 56 : Income from other sources-Share premium-DCF method-Holding company-Bringing the premium received from the holding company to tax net under these deeming fictions would tantamount to stretching the provision to an illogical length and will lead to some kind of absurdity in taxing own money of shareholders without any corresponding benefit-Addition is deleted. [S. 56(2)(viib) R.11 UA]

S. 54F : Capital gains-Investment in a residential house-Deduction claimed from selling flats-Transfer for reversal of such deduction made after three years-Matter remanded to verify if there was double taxation. [S. 45]

S. 54F : Capital gains-Investment in a residential house-Non-Resident-Co-owner of a property at USA-Not entitled to the benefit of deduction. [S. 45, 54F(a), 54F(b)]

S. 54F : Capital gains-Investment in a residential house-Capital gains account-Paid the purchase price of property and construction thereon were within relevant period-Denial of exemption is not valid. [S. 45]

S. 54B : Capital gains-Land used for agricultural purposes-Documents on basis of which assessee purchased land valid and enforceable in law, disallowance of exemption for want of registration of land not sustainable. [S. 45]

S. 54B : Capital gains-Land used for agricultural purposes-Purchasing of agricultural land in the name of third person (i.e. wife)-Not entitled to claim exemption. [S. 45]

S. 54B : Capital gains-Land used for agricultural purposes-Order of CIT(A), allowing the claim is affirmed. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-AO deputed inspector for inspecting the property-AO made the deduction as per the inspector report and added the rest income to be taxed-Assessee contented that the two units were not independent-Held, the two units were separated residential houses. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Bonafide mistake-Claim made under section 54F-Entitled to avail the benefit. [S. 45, 54F]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Reference to District Valuation Officer-Determined value higher than consideration but less than stamp duty value-Remanded to the AO to re-determine the fair market value with specific directions. [S.45]