S. 68 : Cash credits-Share capital-Identity, creditworthiness and genuineness established-Addition deleted-Enhancement by CIT (A) was quashed. [S. 131, 251(2)]

S. 68 : Cash credits-Issue of shares at premium-Based on share valuation-Identity and creditworthiness is established-Addition is held to be not valid. [S. 133(6)]

S. 56 : Income from other sources-Real estate developer-Stock in trade-Capital asset-Consideration less than stamp valuation-Addition cannot be made. [S. 2(14), 56(2)(vii)(b)]

S. 54F : Capital gains-Investment in a residential house-Ex parte order-Farmer and Senior citizen-Matter remanded. [S. 254(1)]

S. 54 : Capital gains-Profit on sale of property used for residence-Two residential units modified to one-Entitle to exemption. [S. 45]

S. 40A(2) : Expenses or payments not deductible-Excessive or unreasonable-Interest free funds-Advance of loan-No disallowance can be made.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Export of computer software-Disallowance would increase profits of business eligible for deduction-Validity of initiation of reassessment proceedings not adjudicated. [S. 10A, 10AA, 147, 148, 195]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Freight payment to Transporters-Each goods receipt below prescribed limit-Not liable to deduct tax at source. [S. 194C]

S. 37(1) : Business expenditure-Corporate social responsibility-Payments made to church, Police station, summits, Schools, Etc. are cannot be considered as corporate social responsibility-Disallowance is proper. Not Been Spent On Corporate Social Responsibility.

S. 37(1) : Business expenditure-Failure to furnish C Forms-Disallowance-Payment For Violation Of Law-Sales Tax On Inter-Delay in depositing Sales Tax, Excise and Customs duty and Service Tax-Differential amount deposited with interest-Not penalty-Allowable as revenue expenditure. [Central Sales Tax Act, 1956]