S. 56 : Income from other sources-Tolerance limit-DVO’s valuation report-Amendment introduced by Finance Act, 2020, increasing tolerance limit under section 56(2)(x)(b)(B) from 5 per cent to 10 per cent, has retrospective effect and applies to assessment year 2018-19.[S.56(2)(x)(b) (B)]

S.54F : Capital gains-Investment in a residential house-Return not filed-Exemption cannot be denied.[S 139, 148]

S. 54B : Capital gains-Land used for agricultural purposes-Growing paddy crop-Lands used for agricultural purposes two years immediately preceding date on which land was sold-Entitle to exemption. [S. 45, 143(3)]

S. 54B : Capital gains-Land used for agricultural purposes-Land was not used for agricultural purposes for two years immediately preceding date of transfer-Not entitle to exemption. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Transfer of development rights-Notionally assignment of development rights-Provision is not applicable.[S. 45]

S. 50 :Capital gains-Depreciable assets-Block of assets-Immovable property-Stamp value and actual consideration-Matter is remanded to Assessing Officer for de novo consideration as per the provisions of section 43CA read with section 50C of the Act.[S.43CA, 45, 50C]

S. 48 : Capital gains-Mode of Computation-Sale consideration-Joint development agreement-Merely on the basis of statement-Addition cannot be made.[S. 45, 132(4)]

S. 48 : Capital gains-Mode of Computation-Cost of acquisition-Unaccounted receipts taxed as part of capital gains, related unaccounted expenditure cannot be taxed separately-Cash payments related to personal expenses, were sourced from unaccounted receipts-Personal expenditure is deleted. [S.45 69C]

S. 44C : Non-residents-Head office expenditure-Head office expenses-Allocated to PE in India-Allowed full-Prior to amendment of article 7(3) of India-UAE DTAA by way of protocol dated 28-11-2007-Expenditure incurred outside India exclusively for operations of Indian branches would not fall within ambit of section 44C-Allowable in full-DTAA-India-UAE [Art. 7]

S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-Developer-Booking of flat-Addition is deleted.[S. 43CA(3), 43CA (4), 50C]