S. 143(3) : Assessment-Survey-Unexplained investment-Excess stock-Lock-down restrictions owing Covid-19-Unable to produce documents in support of its claim within time granted-Order was set aside. [S. 69, 133A, 142(1), 143(2), Art. 226]

S. 80IB(10) : Housing projects-Denial of exemption on the ground that in the revised return the claim was withdrawn-Denial of exemption on hyper technicalities is held to be unjustified-Matter remanded to the Assessing Officer. [S.80AC]

S. 80IB(10) : Housing projects-Built up area-Proportionate deduction allowable-Project completion method-Entitle deduction on the basis of project completion method adopted by the assessee. [S. 145]

S. 80IB(10) : Housing projects-Built-up area-Some units of project conforming to condition-Proportionate deduction allowable.

S. 80IA : Industrial undertakings-Eligible business-Deduction to be computed unit-wise and not business as a whole-Manufacture-Processing and marketing of seeds-Raw seeds undergoing various processes-Amounts to manufacture or production of articles or things. [S. 80IA(2), 80IA(5), 80IA(7)]

S. 80HHC : Export business-Income earned from leasing of plant and machinery-Not export turnover-Not eligible deduction. [S. 80HHC (2)(b)(i)]

S. 69 : Unexplained investments-Excess stock during search-Books of account was incomplete-Retraction of statement-Deletion of addition was held to be justified [S. 132, 132(4)]

S. 50B : Capital gains-Slump sale-Depreciable assets-Block of assets-Sale of undertaking-Sale consideration is not liable to be taxed as short term capital gains. [S. 2(11),2(42C) 45, 50]

S. 50B : Capital gains-Slump sale-Entire business of the undertaking was transferred to subsidiary-Order of Tribunal assessing the amount as slump sale is affirmed. [S. 2(11), 2(42C), 45, 50]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payment to contractor without deduction of tax deduction at source-Disallowance is held to be proper. [S. 12AA, 13(1)(c), 234A, 234C]