S. 115JA : Book profit-Mining, production and generation of aluminum, generated power-Captive power plant (CPP) for internal consumption-Profits derived from CPP was to be reduced from book profits-Provision for liability in respect of post-retirement medical benefits and leave encashment determined as an accrued liability and computed on basis of actuarial valuation by assessee could not be included in its book profits. [S. 115JA(iv)]

S. 80IC : Special category States-Business of Information and Communication Technology-Unit III-Splitting up or reconstruction-Separate books of account maintained-Entitle deduction as a sperate unit.

S. 80IB : Industrial undertakings-Manufacture-Poultry feed-steam cooking-Process undertaken in producing poultry feed would amount to manufacture-Entitled for deduction [800IB(5)].

S. 80IA : Industrial undertakings-Infrastructure development-Bangalore International Air Port (BIAL) is a statutory body-Cargo handling services to BIAL on Built Operate and Transfer(BOT) basis-Service Provider Right Holder (SPRH) agreement would fall within expression ‘infrastructure facility’ under section 80IA(4)-Entitle to deduction. [S. 80IA(4)]

S. 68 : Cash credits-Loans-Identity Creditworthiness and genuineness of lenders proved-Deletion of addition is justified.

S. 68 : Cash credits-Bank deposits-Unexplained money-Estimate of profit-Assessment-Withdrawal and cash deposited in bank-Trading activities-Tribunal was justified in estimating income at rate of 2 per cent of such amount deposited with bank. [S. 143(3)]

S. 68 : Cash credits-Speculation profit-Purchase and sales of commodities-Not registered stock broker-Genuineness of claim was not established-Order of Tribunal affirmed. [S. 115BBE, 133(6)]

S. 45 : Capital gains-Investment in shares, mutual funds and debentures-Short term capital gains-Not assessable as business income-Rule of consistency followed. [S. 28(i)]

S. 45 : Capital gains-Sale of property below circle rate-AO has the jurisdiction to examine the transaction to compute true capital gains. [S. 50C, R. 11UA, Art. 226]

S. 43B : Deductions on actual payment-Electricity-Interim order to deposit electric duty-Money deposited in escrow account-Did not satisfy requirement of amount having been actually paid-Disallowance is held to be justified. [S. 43B(1)]