S. 80IA : Industrial undertakings-Infrastructure development-Initial assessment Year-Option to choose with assessee-Deduction to be computed without setting off unabsorbed Depreciation-Windmill-Expenditure were incurred for effective functioning of Windmills-Depreciation allowable. [S. 32, 80IA(2)]

S. 69C : Unexplained expenditure-Bogus purchases-Accommodation entries-CIT(A) estimated at 25 percent-Tribunal restricted the addition to 12.5 percent.

S. 69 : Unexplained investments-Deposit of cash in bank account-Addition was deleted-Cash deposits and withdrawal-Concealment penalty-Matter remanded. [S. 271(1)(c)]

S. 69 : Income from undisclosed sources-Entries in cash book on date of issue of cheque-Presented in Bank subsequently-Matter remanded for verification.

S. 69 : Income from undisclosed sources-Entries in cash book on date of issue of cheque-Presented in Bank subsequently-Matter remanded for verification.

S. 68 : Cash credits-Accommodation entries-Entire deposit cannot be added as income of the assessee-Estimating the commission at 0.6 percent is held to be appropriate.

S. 56 : Income from other sources-Purchase of immovable property for value less than stamp duty value-Amendment is applicable for assessment year 2014-15 and subsequent years-Amendment is not retrospective-Unable to explain the source of cash payment-Assessable as income undisclosed income. [S. 56 (2)(vii)(b), 69].

S. 40(a)(ia) : Payment For Pest Control after deduction of tax at source-No disallowance can be made-Building maintenance-Matter remanded. [S. 194C]

S. 37(1) : Business expenditure-Agent of Life Insurance Corporation-Expenses related to salary, staff welfare and bonus-Disallowance on guess work is held to be not valid.

S. 37(1) : Business expenditure-Construction of new roads-Capital expenditure-Share premium-Interest on borrowed capital-Matter remanded. [S. 36(1)(iii), 68]