S. 260A : Appeal-High Court-Capital gains-Full value of consideration-Stamp valuation-Reference to DVO-Grounds not raised before the Tribunal-Not allowed to raise the ground in an appeal before High court. [S. 45, 50C, 254(1)]

S. 250 : Appeal-Commissioner (Appeals)-Dismissal of appeal as defective and also stay application-Matter remitted to Commissioner (Appeals) for consideration and decision afresh on merits. [S. 271B, Art. 226]

S. 220 : Collection and recovery-Assessee deemed in default-Stay-Pendency of Appeal before CIT (A)-Directed to deposit Rs. 2 lakhs and stay was granted till disposal of appeal. [S. 220(6), 246A]

S. 147 : Reassessment-Any hypothesis or contingency that may emerge in future-Protective addition-Reassessment is bad in law. [S. 148, Art. 226]

S. 147 : Reassessment-After the expiry of four years-Housing project-Completion certificate issued within four years from date of obtaining permission-Re assessment is held to be bad in law. [S. 80IB(10), 148 Art. 226]

S. 48 : Capital gains-Computation-Industrial building-Failure to produce confirmation-Expenses in relation to cost of construction of gala is held to be not allowable as deduction. [S. 45, 260A]

S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Shares as investment-Valued the stock at lower of cost-Matter remanded to the Assessing Officer. [S. 45]

S. 45 : Capital gains-Business income-Dealing in land-Industrial building-Outright purchase and sale-Assessable as short term capital gains and not as business income-Question of fact. [S. 28(i), 260A]

S. 37(1) : Business expenditure-Real estate business-Forfeiture of advance-Allowable as business expenditure. [S. 28(i), 45]