S. 69 : Unexplained investments-Search-Purchase of raw material-Department and had only assumed undisclosed investment being source of purchases recorded for subsequent sales-Order of Tribunal had rightly deleted addition made by Assessing Officer under section 69C-No substantial question of law. [S.260A]

S. 69 : Unexplained investments-Bogus purchases-Purchase from grey market-Trading in gold and diamond jewellery-Sales accepted-Books of account not rejected-Order of Tribunal estimating addition of 13.05 per cent of gross profit is affirmed-No substantial question of law. [S. 145, 260A]

S. 68 : Cash credits-Established identity capacity and genuineness of Transactions-Order of Tribunal is affirmed-No substantial question of law.[S. 133(6), 260A]

S. 68 : Cash credits-Share premium-Proved identity and creditworthiness of investor and genuineness of transactions-Order of Tribunal confirming the addition is set aside. [S. 143(1), 147,148, 260A]

S. 68 : Cash credits-Share premium-Proved identity and creditworthiness of investor and genuineness of transactions-Order of Tribunal confirming the addition is set aside-Delay of 325 days-SLP of Revenue is dismissed. [S. 143(1), 147,148, Art. 136]

S. 115JB : Book profit-Disallowance under substantive provision i.e. section 14A had been deleted-No adjustment can be made to book profit.[S. 14A, 260A, R.8D]

S. 115JB : Book profit-Disallowance under substantive provision i.e. section 14A had been deleted by Tribunal is affirmed by High Court-SLP of Revenue is dismissed. [S. 14A, 260A, R.8D, Art. 136]

S. 43B : Certain deductions only on actual payment-LIC Mutual Fund purchased unsecured debentures of assessee-company-Interest on unsecured debenture payable by assessee to LIC Mutual Fund is not covered by section 43B-Allowable as deduction.[S. 37(1), Companies Act 1956, S.4A, The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (SEBI Mutual Funds Regulations), clause 2(q), Life Insurance Corporation Act, 1956. S. 3, Indian Trust Act, 1882, S.6]

S. 40(a)(i) : Amounts not deductible-Deduction at source-Non-resident-Salary-Order giving effect to the order of Tribunal-Once Tribunal had accorded relief to assessee on account of payment of salary to expatriate employees in foreign currency and outside India, deduction was liable to be allowed by Assessing Officer-DTAA-India-Japan.[S. 254(1, Art. 7, Art. 226]

S. 37(1) : Business expenditure-Capital or Revenue-Lease hold building-Failure to produce any material-Capital expenditure-Depreciation is allowed. [S. 32(1), Explanation.]