S. 68 : Cash credits-Unexplained investments-Seizure of Banakhat duly signed by the assessee-Addition U/s 68 on account of non-availability of ROI and Bank account of lender-Held that AO has not brought any material or evidence to disprove the genuineness of information submitted by the assessee-The appeal of the revenue is dismissed. [S. 69, 153A]

S. 54F : Capital gains-Exemptions-investment in house property in name of assessee’s widowed daughter was allowable-Direct nexus between sale consideration received and investment in house property-Entitle to exemption. [S. 45]

S. 54B : Capital gains-Land used for agricultural purposes-HUF-Entitle for exemption. [S. 2(31), 45]

S. 50C : Capital gains-Full value of consideration-The value adopted by the stamp valuation authority on the date of agreement to be taken as full value of sale consideration. [S. 45, 132, 153C]

S. 47 : Capital gains-Short term-Transfer-Any transaction involving the allowing of the possession of any immoveable property-Invoking section 53 of Transfer of Property Act-not a transfer-Addition was deleted. [S. 2 (47)(v), 48, Transfer of Property Act,1882, S. 53A]

S. 45 : Capital Gain-Benefit or gain on realization of loan issued in foreign currency on account of foreign exchange fluctuation-In capital field cannot be held to be in the nature of interest and taxed as income from other sources. [S. 2(24)(vi), 2(28A), 56]

S. 43B : Certain deductions only on actual payment-Rent received-Local taxes-GST unpaid-Matter remanded. [S. 22, 23, 254(1)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Failure to verify relevant documents-Matter remanded. [R. 6DD]

S. 40(a)(ia) : Amounts not deductible-Software purchase-Not royalty-Not liable to deduct tax at source [S.9(1), (vi), 195, 201(1), 201(IA)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Commission-Agents residing outside India-Not liable to deduct tax at source.[S. 9(1)(i), OECD Model Tax Convention, Art. 7]