S. 54 : Capital gains-Profit on sale of property used for residence-Investing part of sale proceeds-Unable to construct of house due to litigation-Entitled to deduction only to extent of amount used for purchase of site and not for balance. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation Difference between Circle Rate and actual sale consideration less than 10 Per Cent. of Stamp Duty valuation-Difference cannot be added. [S. 43CA, 45, 56]

S. 43B : Deductions on actual payment-Statutory due was paid before filing of return-Inadvertently showing in Audit Report as not paid-Error rectified by filing revised audit report-Disallowance was deleted. [S. 143(1), 143(3)]

S. 43(5) : Speculative transaction-Transactions in derivatives and share trading-Loss not from speculative business-Set-Off to be allowed. [S. 72]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Filing certificate before the Tribunal certificate of Chartered Accountant stating that recipient had filled return including the amount received-Matter remanded for verification. [S. 194A, 201(1)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Acquisition of software-Treated as capital expenditure-Failure to deduct tax at source-No disallowance can be made.

S. 40(a)(i) : Amounts not deductible-Deduction at source-Purchase of computer-Not royalty-Not liable to deduct tax at source. [S. 9(1))(vi), 195]

S. 37(1) : Business expenditure-Capital or revenue-Repair and renovation of leased premises-Allowable as revenue expenditure-Ex-gratia payment-Matter remanded. [ S. 43B]

S. 37(1) : Business expenditure-Computer expense-Ad hoc basis-Without pointing out any defects, ad hoc disallowance was held to be not justified.

S. 37(1) : Business expenditure-Upfront fee-Term loan for acquiring fixed asset-Interest on loan taken on equipment-Allowable as revenue expenditure.