S. 68 : Cash credits-Undisclosed Foreign Income and Assets-Protective addition-Addition made under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015-Addition cannot be made as cash credits under section 68 of the Income-tax Act, 1961 [Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, S.10]

S. 57 : Income from other sources-Deductions-Interest income on fixed deposits-Interest expenditure had not given rise to corresponding interest income-Not allowable as deduction. [S.56, 57(iii)]

S. 56 : Income from other sources-Immovable property-Tolerance band-Amendment to section 56(2)(x) by Finance Act, 2020 with effect from 1-4-2021-Increase in tolerance band for variation between stamp duty valuation and actual consideration from 5 per cent to 10 per cent is clarificatory/curative in nature having retrospective effect-No addition can be made. [S. 56(2)(x)]

S. 54F : Capital gains-Investment in a residential house-Construction delayed due to litigation-Exemption cannot be denied-Proportional deduction is allowed.[S. 45]

S. 45(3) : Capital gains-Transfer of capital asset to firm-AOP-BOI-Transfer undivided title and rights in a land capital asset to AOP-Capital contribution-Amount credited to capital account-Transfer of capital asset-Taxable under section 45 (3) [S. 2(47 (ii)]

S. 45 : Capital gains-Purchase of shares-Reflected in account books-Payment was made to broker subsequent date-Capital gains cannot be assessed as income from undisclosed sources.[2(29AA,) 2(29B), 68, 69]

S. 45 : Capital gains-Purchase and sale of shares-Off market purchases-Adventure in the nature of trade-Penny stock-Assessable as capital gains and not as business income.[S. 10(38), 28(i)]

S. 45 : Capital gains-long-term securities-Penny stock-Scrip was not black listed by SEBI at relevant period-Paid STT-Denial of exemption is not justified-Addition as cash credits is deleted. [S. 10(38), 68]

S. 44B : Shipping business-Non-residents-Computation-Inland haulage charges-Part of income from operation of ships in international traffic-Charges received from transportation of cargo through feeder vessels-Not taxable in India-income from IT support services-Matter remanded-DTAA-India-France. [S.9(1)(vii), Art.9(1), 13]

S. 40(a)(ia): Amounts not deductible-Deduction at source-Cost of products manufactured-Not chargeable to tax-Not liable to deduct tax at source-DTAA-India-USA [S. 9(1)(v), 9(1)(vi), 195, Art. 12]