S. 54 : Capital gains – Profit on sale of property used for residence –
As on date of transfer of original asset – Not owning more than one residential house — Capital gains deposited in capital gains savings account — Completion of construction within two years from date of sale of original asset —Entitled to exemption[ S.45, 54F ]

S. 54 : Capital gains – Profit on sale of property used for residence -New property acquired in Son’s name —Exemption cannot be denied [ S.45 ]

S. 50C : Capital gains – Full value of consideration – Stamp valuation – Assessable – With effect from 1-10-2009 prospective in nature- Deemed sale consideration of Rs. 1.56 crores could not be invoked. [ S.45 , 48 ]

S.48 :Capital gains — Cost of acquisition — Valuation of land and building —Property let out -Valuation should be on basis of rent capitalisation method [ S.45 ]

S.45: Capital gains – Sale of shares – Penny stock – Assessment in search cases — Unexplained Income — Purchase of shares and sale transactions through Online Mode – Merely on presumption addition cannot be made – The presumption needs to be corroborated by some evidence to establish the same. [ S.10(34) , 68 , 69 132(4) 132(4A) ]

S. 44D : Foreign companies –Non-Resident — Fees For Technical Services — Technical experts on deputation to India — Not entitled to deduction- Ruling given by Authority not binding either on department or Tribunal – Fees for included services taxable — Not entitled to deduction [ S.10B ]

S. 40(a)(ia): Amounts not deductible – Deduction at source – Payment to group companies- Reimbursement of expenses – Not liable to deduct tax at source .[ S. 195 ]

S.37(1) : Business expenditure —Corporate social responsibility expenses —Matter remanded [ S.80G ]

S.32: Depreciation — Animation software ,stored in computer for use in films -Entitle to depreciation at 25% and not 60% .

S. 32 : Depreciation – Golf course – Plant – Entitle to depreciation .