S. 115J : Company-Book profit-Adjustment-Exempt income-Matter remanded.[S. 14A, R.8D]

S. 69C: Unexplained expenditure-Bogus purchases-Deletion of addition by CIT(A) is affirmed. [S. 147]

S. 69A : Unexplained money-Cash deposit in bank-Non-Resident-Withdrawal from bank-Addition is deleted.

S. 69 :Unexplained investments-Investment in an immovable property in India-Explained the source-Addition is deleted-Registration and stamp charges-Source explained-Addition is deleted.

S. 68 : Cash credits-Produced,identity, genuineness of transaction and creditworthiness, along with confirmation and proof of regular banking channel-Lender’s failure to respond to summons alone did cannot be the ground to treat the loan as cash credits. [S. 131]

S. 54F : Capital gains-Investment in a residential house-Residential property was purchased in his wife’s name-Entitle to deduction. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Amount utilised for construction of new house-Exemption is allowable even if construction was not complete. [S. 45]

S. 48 : Capital gains-Mode of Computation-Cost inflation index-Foreign asset is held and sold outside India-Indexation-Shares held in foreign countries-Resident company-Second proviso to section 48, which grants indexation benefit, does not distinguish between assets held in India and held in foreign countries-Eligible for Indexation.[S. 45]

S. 45 : Capital gains-Capital loss-Indexation-Business income-Land was held for more than five years without carrying out any development activity-Sale of land is assessable as capital gains and not as business income.[S. 28(i)]

S. 43(6) : Written down value-Block of assets-Depreciation-Stamp valuation-Assessing Officer could not have substituted sale consideration received by stamp duty valuation of property while computing WDV for claiming depreciation on block of assets. [S. 2(11), 32, 50]