S. 90 : Double taxation relief-Long term capital gains-Tax residency certificate-Tax resident of Mauritius with valid TRC and a beneficial owner of income derived from sale of shares, is entitled to treaty benefits, and, thus, capital gain, being exempt under treaty provisions could not be brought to tax in India-DTAA-India-Mauritius [ S.9(1)(1), 45, art, 13(3A), 13(4)]

S. 90 : Double taxation relief-Elimination of double taxation-OECD Model Convention, Art, 25, 23A-No foreign tax paid in India-eligible for tax credit. [ S.40(a)(ii)]

S. 90 : Double taxation relief-Foreign tax credit-Form No. 67 was filed beyond due date of filing of return-Procedural-Not mandatory-Directory-Matter is remanded to Assessing Officer to grant FTC-DTAA-India-Myanmar [ S.139(1), 143(1), R. 128, art.25]

S. 80P : Co-operative societies-Tapping toddy from their farms-Sold through licensed shops-Not entitle to deduction. [S.80P(2)(a), 80P(2)(a)(iii), 80P(2)(a)(vi)]

S. 80P : Co-operative societies-Credit facilities to members-Interest on parking surplus funds in fixed deposits-Interest income is allowed as deduction. [ S. 80P(2)(a)(i)]

S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Liquidated damages-Sale of scrap-Miscellaneous income-Sundry creditors written back-Eligible for deduction.

S. 79 : Carry forward and set off losses-Change in share holdings-Companies which public are not substantial interested-Beneficially held more than 51 per cent of voting powers in both the years-The year in which the loss is incurred and the year in which the loss is sought to be set off-Share holding of one share holder is increased from 40 percent to 85 percent-Set off of brought forward losses is allowable.

S. 69C : Unexplained expenditure-Survey-Loose papers-Cash expenses-Unexplained receipts and expenditure-Order of CIT(A) is affirmed. [ S. 133A]

S. 69A : Unexplained money-Sale of land-Share holders-Unaccounted cash-Addition is deleted.

S. 69 : Unexplained investments-Income from undisclosed sources-Gift-Father and mother-Affidavits-Accepted as genuine-Gift from grand mother-Failure to produce evidence-Addition is affirmed. [ S.68]