S. 54 : Capital gains-Profit on sale of property used for residence-Capital gains not utilised within period of three years-Chargeable ro capital gain year in which period of 3 years from date of transfer of original asset expires. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Substantially complied with provisions-Some delay in depositing amount in CGAS-Denial of exemption is held to be not justified. [S.45, 139(1)]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Agreement fixing amount of consideration and date of registration of property is different-Stamp valuation on date of agreement was to be taken for purposes of computing full value of consideration. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Disputing the stamp valuation-Matter should be referred to DVO for valuation of the said property. [S. 45]

S. 45 : Capital gains-Sale of land-Possession was not handed over-Execution of cancellation deed-No Transfer not liable to capital gains tax-Capital gain is not liable to be taxed though offered in the return of income. [S. 2(47)(v), Transfer of Property Act, 1882, S. 53A]

S. 44D : Foreign companies-French airlines-Shipping, inland waterways transport and air transport-Technical services-Handling services-Pool member and providing service in that capacity to guest members would come under purview of Article 8(2) of DTAA between India and France-DTAA-India-France-Addition confirmed by the CIT(A) was deleted. [S. 9(1)(vii), 90, 115A, Art. 7, 8(2)]

S. 43B : Deductions on actual payment-VAT and excise duty-Closing balance of earlier years cannot be added back.

S. 43(5) : Speculative transaction-Forward contract-Hedging currency-loss due to fluctuation in foreign exchange-Not speculative-Allowable as business loss. [S. 28(i), 37(1)]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Advance cash was returned back-Matter remanded.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest payment-Second proviso to section 40(a)(ia) coming into effect from 01-04-2012 by Finance Act, 2012, disallowance was to be deleted and, matter was to be remanded back for disposal afresh. [S. 201(1)]