S. 72 : Carry forward and set off of business losses-Foreign companies-Franchise fees from an Indian company-Rate of tax is not relevant-Loss is allowed to be set off. [S. 115A(1)(b)]

S. 69C : Unexplained expenditure-Bogus purchases-Trading and manufacturing of diamonds-Purchases form tainted dealers-Report of Task Force for Diamond Sector constituted by Ministry of Commerce and Industry-Profit element embedded in value of disputed purchases for diamond manufacturers was to be estimated in range of 1.5 per cent to 4.5 per cent [S. 40A(3), 145]

S. 69C : Unexplained expenditure-Ad-hoc addition of sundry creditors-20 percent of purchases-Discrepancies in balance sheet was reconciled-Addition is not valid. [S. 145]

S. 69A : Unexplained money-Hospital-Demonetization-Sale of medicine and cash in hand-Direction of commissioner to increase declared book profit by 4 per cent of total amount deposited by assessee-Addition is deleted. [S. 145.]

S. 69A : Unexplained money-Immoveable property-Survey Draft sale deed-Not signed-Application filed by developer before Settlement Commission admitting to have invested certain amount of unaccounted income was not provided for confrontation-Addition is deleted. [S. 133A, 148]

S. 69A : Unexplained money-Deposit-Sale proceeds of book and donation-Matter remanded for reverification. [S. 147, 148]

S. 69 : Unexplained investments-Investment in purchase of house-Addition restricted to Rs. 1,81,700 only. [S. 144, 147, 148]

S. 68 : Cash credits-Cash deposited-Agricultural income-Addition is not valid. [S. 148]

S. 68 : Cash credits-Limited scrutiny-Large investment in property-Wrong mention of the PAN-Addition for purchases as cash credits cannot be made. [S. 143(3)]

S. 68 : Cash credits-Gift of jewellery from grandmother-Gift received in kind-No cash or cheque-Addition cannot be made as cash credits-Affidavit of grandmother was filed-No occasion for gift to be proved-Exempt from the provisions of section 56(2)(vii) of the Act. [S. 56 (2)(vii]