S. 45 : Capital gains-Long term capital gains from equities-Survey-Report from investigation wing-Accommodation entries-Kolkata based companies-Order of Tribunal allowing the claim is affirmed. [S. 10(38), 68, 69, 133A]

S. 43B : Deductions on actual payment-Any sum received from employees-No deduction is available to employer in respect of deposit of employees’ contribution of PF and ESI beyond due date prescribed in relevant Acts. [S. 36(1)(va), 260A)

S. 37(1) : Business expenditure-Repairs and maintenance-Details produced-Disallowance of expenditure is held to be not justified.

S. 37(1) : Business expenditure-Capital or revenue-Current repairs-Steel rolling mill-Expenditure incurred for replacement of steel rolls is revenue expenditure. [S. 31]

S. 28(i) : Business loss-Burden of proof-Search-Order of Tribunal allowing the loss is held to be perverse-Order of Tribunal is set aside.[S. 132, 153A, 254(1)]

S. 14A : Disallowance of expenditure-Exempt income-Not recording of satisfaction-Own funds-Order of Tribunal deleting the addition is affirmed. [R. 8D (2)(ii)]

S. 12AA : Procedure for registration-Trust or institution-Genuineness of activities-Order of Tribunal directing the Commissioner to grant registration is affirmed. [S. 12A]

S. 11 : Property held for charitable purposes – Hospital – Providing medicines and medical aid to needy and poor people – Free distribution of medicines – Tribunal was justified in allowing application of income on account of free distribution of medicines. [S. 133(6)]

S. 4 : Charge of income-tax – Sales tax subsidy – Issue attained finality in assessment year 2002 -03 – Order passed by Tribunal for relevant assessment year was not required to be given effect and order passed by Commissioner (Appeals) was restored. [S. 250]

S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record – Cash credits –Accommodation entries – Additional evidence – Violation of Rule 46A by CIT(A)- Failure to produce the parties – Assessing Officer should exercise his powers under section 131 of the Act – Assessee cannot be compelled to produce the parties – Order of Tribunal rejecting the miscellaneous application and reversing the order of the CIT(A) is quashed and set aside – CIT(A) is directed to decide the appeal a fresh in accordance with law and following the procedure prescribed as per Rule 46A of the Income -tax Rules , 1962 . [S. 68, 131 , 254(1) , Art . 226 ]