S. 54B : Capital gains-Land used for agricultural purposes-Assessee includes HUF-Amendment brought on by Finance Act, 2013, in section 54B by inserting assessee being an individual or his parent, or a Hindu Undivided Family was classificatory in nature. [S. 54F]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Safe harbour-Variation from 5 percent to 10 percent-Effective from the date on which section 50C was introduced. i.e. 1-4-2003 [S. 50C(1), 45]

S. 45 : Capital gains-Business income-Developer-Sale of land after gap of a decade-Profits assessable as capital gains-Entitle for exemption. [S. 28(i), 54F]

S. 43CB : Construction and service contracts-Percentage completion-Project completion method-Both duly recognized methods of accounting under construction contracts for relevant assessment year. [S. 145]

S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-stock in trade-Agreement value-Stamp valuation-Sale of flats with customer prior to 1-4-2013-Sale deed was executed after 1-4-2013-Provision is applicable [S. 50C]

S. 43B : Deductions on actual payment-Late deposit of employee contribution towards ESIC/EPF-Payment was made before due date of filing of return-Allowable as deduction-CIT (A) was not justified in denying deduction by relying upon non-jurisdictional High Court’s decision. [S. 36(1)(va), 144B, 250]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Purchases-Not claimed as expenditure-Matter remanded.

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Advance against sale of property-Continued to remained as liability in the balance sheet-Addition cannot be made as cessation of liability.

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Real estate developer-Purchase of agricultural land-Disallowance was held to be not justified. [R. 6DD(e)(i)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Pond and farm maintenance expenses-No evidence was produced to prove that the payments had been made to cultivator, grower or produced-Disallowance was confirmed. [R. 6DD(e)]