S. 45 : Capital gains-Sale of property given as security as guarantor by director-Collateral security as a guarantor-Taxable in the year in which land was transferred to assignee to sale to recover loan for bank-Year of taxability was not examined-Matter remanded-Court made observation that the law may be amended to recover the tax from the borrower. [S. 2(47), 48]

S. 45 : Capital gains-Investment in shares-High volume and frequency of transactions-Shares purchased on delivery basis-Accepted for number of years-Assessable as capital gains. [S. 2(29A) 2(42A), 10(38), 28(i)]

S. 45 : Capital gains-Sale cum development agreement dt. 21-10-2010-Possession of property to transferee after obtaining intimation of disapproval (IOD)-IOD received on 15-4-2013-Capital gain is not taxable in the assessment year 2011-12. [S.2(47), Transfer of Property Act, 1882, S.53A]

S. 45 : Capital gains-Division of property to avoid family dispute-Capital gains is taxable in the hands of Individual and not HUF. [S. 4, 171]

S. 44BBA : Air craft-Non-residents-Gross receipts-Service tax-Fiduciary capacity-Service tax was to be excluded from gross receipts while computing total income of assessee on presumptive basis.

S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-First proviso to section 43CA inserted by Finance Act, 2020 with effect from 1-4-2021 is applicable retrospectively-Difference recorded between sale value of flats sold by assessee and stamp value of such flats was within 10 per cent margin-Addition is deleted. [S.50C]

S. 43B : Deductions on actual payment-Developer-External Development Charges-External Development Charges (EDC) to HUDA authority-Not a tax/duty/cess/fee, hence, does not attract provisions of section 43B-Allowable as deduction [S. 37(1), 145]

S. 43B : Deductions on actual payment-GST liability-Directly shown in balance sheet-Failure to pay before filing of return u/s. 139(1)-Disallowance is justified. [S. 139(1), 145A]

S. 43(5) : Speculative transaction-Derivative transactions-Futures and options transactions in recognized stock exchange through SEBI registered share broker-Loss allowable as business loss. [S. 43(5)(d), 73]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Wrongly shown by tax auditor in the report-Expenditure was not claimed as deduction-Addition is not valid. [S. 28(i)]