S. 56: Income from other sources-Capital gains-Income from other sources-Sale of immovable property-Difference between sale consideration and stamp duty value less than ten per cent.-No addition.[S.50C, 56(2)(x)]

S. 50B : Capital gains-Slump sale-Freehold land-Business impairment adjustment in books-Indexed cost to be computed on actual cost-Addition sustained.[S. 2(24C), 45]

S. 40(a)(ii) : Amounts not deductible-Rates or tax-Business expenditure-Education cess-Not allowable as deduction.[S. 37(1)]

S. 37(1): Business expenditure-Bogus purchases-Statement of supplier retracted-Sales accepted-Purchases cannot be treated as bogus-Addition deleted.[S.69C]

S. 37(1): Business expenditure-Corporate Social Responsibility expenditure-Explanation 2 prospective-Expenditure incurred prior to assessment year 2015-16 allowable. [Expln. 2 to S. 37(1)]

S. 37(1): Business expenditure-Inventory loss and leakage-Consistent view in earlier years-Deduction allowable.

S. 37(1) : Business expenditure-Construction of building on leasehold land-No ownership of capital asset-Expenditure allowable as revenue expenditure-Delay of 59 days and 206 days was condoned. [S. 32(1), 254(1)]

S. 37(1): Business expenditure-Penalty for violation of law-Seizure of truck with wrong waybill-Not allowable.[Expln. 1 to S. 37(1), GST, VAT]

S. 36(1)(va): Any sum received from employees-Employees’ contribution to Provident Fund and ESI-Delayed payment-Disallowance upheld.[S.43B]

S.14A: Disallowance of expenditure-Exempt income-Rule 8D not applicable in absence of requisite data-Disallowance restricted to 10 per cent. of dividend income. [R. 8D]