S. 80P : Co-operative societies-Interest-Bank-Bank not being a co-operative society interest income could not be said to attributable to activities of co-operative society-Not eligible for deduction-Interest income reduced by administrative expenses and other proportionate expenses to earn said income had to be brought to tax as income from other sources. [S. 56, 57, 80P(2)(d)]

S. 80IA : Industrial undertakings-Infrastructure development-Partnership firm-Executed works contract-Not eligible deduction [S. 800IA(4), 80IA(13)]

S. 80G : Donation-Expenses incurred under Corporate Social Responsibility Scheme under provisions of Companies Act are eligible for deduction-Matter remanded. [S. 37(1)]

S. 80G : Donation-CSR expenses-Denial of deduction merely because donation forms part of CSR as it would lead to double disallowance is held to be not valid. [S. 37(1)]

S. 80 : Return for losses-Return of income within prescribed time-Audited financial statements could not be filed along with return of income as accounts were not audited by that time-Denial of carry forward of business loss is not justified. [S. 44AB, 72, 139(9)]

S. 69C : Unexplained expenditure-Bogus purchases-Justified in deleting 100 percent disallowance and disallowing to 12.5% out of bogus purchases.

S. 69A : Unexplained money-Demonetization deposit-Mere mismatch of denominations of currency notes would not lead to addition where currencies of past savings might have mixed with currencies withdrawn.

S. 68 : Cash credits-Share capital-Transaction through account payee cheques, bank statements filed-Addition is not valid. [S. 133(6)]

S. 68 : Cash credits-Share application-Entries were circulating in nature-Failed to establish creditworthiness or genuineness of transaction-Addition is held to be justified.

S. 68 : Cash credits-Demonetization-Cash deposits-Sale proceeds-Sale proceeds offered to tax as revenue receipt-Addition would lead to double taxation-Addition is deleted. [S. 44AB, 115BBE]