S. 90 : Double taxation agreement-Rate of tax–Applicable to domestic company and not 65%-CBDT Circular is held to be applicable-DTAA-India-Japan. [Art. 7, 23, 24(2)]

S. 80P : Co-operative societies–Denial of exemption-Alternative remedy – Directed to avail alternative remedy u/s. 246A of the Act. [S. 246A, Art. 226, Tamil Nadu Cooperative Societies Act, 1983]

S. 72 : Loss-Carry forward and set off-scheme sanctioned by BIFR-Objection by Revenueto grant tax concession- Writ is held to be not maintainable . . [S. 72A, Sick industrial companies (Special provisions) Act, 1985, S. 18, 19, Art,226 ]

S. 69A : Income from undisclosed sources–No evidence to show that cheques stated to have been issued by the assessee-Deletion of addition is held to be justified.

S. 69 : Unexplained investment-Income from undisclosed sources- Jewellery converted to bullion and sold–Sale proceeds through bank –Addition cannot be made as income from undisclosed sources. [Voluntary Disclosure of Income Scheme, 1997]

S. 69 : Un explained investment-Income from undisclosed sources- Non-Resident-Deposit in NRI Accounts–Deletion of addition by the Tribunal based on the evidences–Reversal of the order of Tribunal by the High Court is held to be not valid–Oder of the Tribunal is affirmed. [S.158BB, 260A, Foreign Exchange Regulation Act, 1973, S.13]

S. 68 : Cash credits-Bank statement or identity of creditor is not sufficient to prove the creditworthiness of creditor-Confirmation and income tax return is not produced-Addition is held to be justified.

S. 68 : Cash credits–Advance received-Produced bank statements and other details produced–Discharged the burden-Deletion of addition as cash credits is held to be justified.

S. 68 : Cash credits–Genuineness of purchases could not be established – Addition as cash credit is held to be justified.

S. 54B : Capital gains-Land used for agricultural purposes–Sale of new asset of agricultural land within lock in period of three years– Withdrawal of exemption is held to be valid–Capital gains is chargeable to tax in the year in which transfer of asset is effected. [S. 45]