S. 64 : Clubbing of income – Spouse – Rent paid to wife – Investment in the House property by wife from her own source and loan from Bank – Source of fund established clubbing provision do not apply – There is no legal bar for paying house rent to wife [ S. 10(13A), 24, 64(1)(ii) ]

S. 56 : Income from other sources – Flat booked under construction was not constructed – Alternative flat was allotted in another building which was under construction- Difference between stamp duty value of the alternative flat and the consideration is not chargeable to tax u/s 56(2)(vii ) of the Act . [ S. 2(27), 54, 56(2)(vii) ]

S. 56 : Income from other sources – Joint venture agreement – Shares issued to resident venture and non- resident venture at a differential price – DCF method – Valuation given by expert cannot be rejected – Addition is not valid [ S. 56(2)(viib) , R.11UA ]

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

S. 56 : Income from other sources – Advance received for purchase of property – Cannot be held as without consideration – Deletion of addition is held to be justified [ S. 56(2)(vi) , 68 ]

S. 54 : Capital gains – Profit on sale of property used for residence – Date of possession should be taken as the date of purchase and not the date of registration [ S. 45 ]

S.43CA: Transfer of assets- other than capital assets- Full value of consideration- stock in trade-Agreement value – Stamp valuation – Allotment letter – Where allotment letters are issued and part payments are received prior to Ist April , 2013 – Provision of section 43CA does not apply – Difference less than 5% – Provision does not apply . [ S.50C ]

S. 32 : Depreciation -Non- compete fee – Intangible assets – Right in personam and not right in rem – Not entitle to depreciation [ S. 32(1)(ii) ]

S. 32 : Depreciation -Non- compete fee – Intangible assets – Right in personam and not right in rem – Not entitle to depreciation [ S. 32(1)(ii) ]

S. 24 : Income from house property – Deductions – Rent of furniture and fixtures etc- 30% deduction allowable as deduction- Reimbursement of member’s share of contribution for repairing the entire society building is held to be not taxable as it has no income element . [ S.4, 22, 24(a)]