S. 80IC : Special category States-Deduction to be restricted to extent of gross total income. [S. 80A, 115JB]

S. 74 : Losses-Capital gains-Return filed within a specified time-Set-off of capital loss brought forward from the assessment year 2010-11 was to be allowed to assessee in the relevant assessment year. [S.80, 139(1)]

S. 71 : Set off of loss-One head against income from another-Capital gains-Exempt income-Short-term capital loss from shares could not have been set off against any tax-exempt income covered under Chapter III. [S. 10(38)]

S. 68 : Cash credits-NRI-Gift from brother-Addition was deleted.

S. 68 : Cash credits-Share application money-Bank statements, audited balance sheet, financial statements, copies of ITR etc.-Addition is not valid.

S. 56 : Income from other sources-Bonus shares-Provisions of section 56(2)(vii)(c) are not applicable to bonus shares. [S. 56(2)(vii)(c)]

S. 56 : Income from other sources-Interest on Enhanced Compensation-Interest received on compensation or on enhanced compensation is taxable under section 56(2)(viii) read with section 145A(b) applicable with effect from 1-4-2010. [S. 56(2)(viii), 145A]

S. 56 : Income from other sources-Sale of shares at a premium-Addition made on account of the difference between FMV and actual consideration received by the assessee in terms of section 56(2)(viib) was justified. [S. 56(2)(viib), R.11UA]

S. 56 : Income from other sources-Non-resident-Valuation of shares-Shares issued higher amount than to resident shareholders-Addition was not justified. [S. 56(2)(viib), Rule 11UA]

S. 54 : Capital gains-Profit on sale of property used for residence-Short term-Long term-Land-House constructed was sold in the same year of construction-Assessable as short term-Exemption is available only to long term capital gains-Consideration towards land to be assessed as long term capital gains-Cost of boundary walls-Deduction-Evidence was not produced-Deduction was denied. [S. 2(29A), 2(29B), 2(42A), 2(42B), 45, 48]