S. 48 : Capital gains – Computation -Shares held as investment -brokerage is held to be allowable as deduction – Demat charges is held to be not allowable as deduction while computing capital gains .[ S.45 ]

S. 45 : Capital gains- Business income -Investment in shares – Just because assessee has purchased and sold number of shares does not by itself make it business income when the AO accepted the scripts as investment in the balance sheet and books of account are accepted. [ S.28(i) ]

S. 45: Capital gains- For the purpose of computation of capital gains, AO could not substitute full value of sales consideration with any notional or hypothetical value.[ S.48]

S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits -Purchase of land -Capital expenditure is charged to profit and loss account -Disallowance cannot be made .

S. 40(a)(ia):Amounts not deductible – Deduction at source – Certain income and expenditure are merely pass through entries and there is no case of any adverse revenue implication, no disallowance can be made.

S. 40(a)(ia): Amounts not deductible – Deduction at source -Payee has offered income in their return-No disallowance can be made -Matter remanded to CIT(A) to pass a speaking order [ S.194J ]

S. 40(a)(i) : Amounts not deductible – Deduction at source -Non-resident – The administrative fee paid to EGC of US and EGC of Singapore -Not liable to deduct tax at source – DTAA-India – [ Art. 12 ]

S. 40(a)(i) : Amounts not deductible – Deduction at source – Expenses on maintenance of aircraft contract to foreign company – payments business receipts not taxable in India – Not liable to deduct tax at source. [ S.195 ]

S. 40(a)(i): Amounts not deductible – Deduction at source -Non-resident – legal and professional services -Not liable to deduct tax at source- DTAA-India -USA [S.195 , Art.15]

S.37(1) : Business expenditure – Subsidiary company – Gratuity and leave wages of employees – Deduction cannot be allowed in two entities -Matter remanded to the AO.