S.54F : Capital gains-Investment in a residential house-More than one residential property on date of transfer of capital asset-Not entitle to deduction.[S. 45]

S. 50B : Capital gains-Slump sale-Failure to examine evidence-Matter remanded.[S. 2(42C)]

S. 47(xiiib) : capital gains-Transaction not regarded as transfer-Capital gains-Conversion of firm in to LLP-Good will-Books of account of predecessor company did not include goodwill in accumulated profits, there was no violation of clauses (c) and (f) of section 47(xiiib) and additions made under section 45 treating assessee to be in violation of clauses (c) and (f) of section 47 could not be sustained.[S. 45]

S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Land converted into stock-in trade-Earmarked land for road and other common amenities purpose in terms of municipal regulations-No transfer-Neither capital gains nor business profits.[S. 45, 47 (iii)]

S. 45 : Capital gains-Land situated within jurisdiction of municipality and population was more than 10,000-Not an agricultural land-Sale proceed out of compulsory acquisition of land was not exempt under section 10(37). [S. 2(14)(iii)(a), 10 (37), Land Acquisition Act, 1894 ]

S. 45 : Capital gains-Agreement to sale of agricultural land-Capital asset-Subsequently the land use was changed as non agricultural land-Possession was given when the sale deed is executed-Relevant date is execution of sale deed-Liable to capital gains.[S. 2(14), 2(47) 47, 50C]

S. 45 : Capital gains-Land sold after a gap of 13 years-Assessable as capital gains and not as business income-Cost of acquisition-Matter remanded. [S.28(i), 55]

S. 45 : Capital gains-Agreement for sale-Conveyance was made on 22-5-2007-Capital gains taxable in the assessment year 2008-09.[S. 2(31)(v), 2(47)(v)]

S. 45 : Capital gains-Business income-Mere fact that assessee-AOP purchased and made construction thereon itself would not be sufficient to hold that income earned on such sale of property would qualify as business income and same would be taxable as capital gains. [S. 2(31)(v), 28(i)]

S. 44BB : Mineral oils-Computation-Non-resident-Business profits- Supply/lease/hire of rigs to be used for drilling and exploration of mineral oils-Amount received is covered under provisions of section 44BB and taxable on gross basis at rate of 10 per cent-DTAA-India-Malaysia [S. 9(1)(vi), 115A,Art.12]