S. 80G : Donation-In absence of any evidence on record showing that funds of assessee trust were being utilised for private purposes-AO is, not justified in refusing to grant approval under S.80G(5)(vi) of the Act. [S. 12AA]

S. 80 : Return for losses-Claim for carry forward of loss- Return filed in old form-Filed revised form after due date-Entitle to carry forward the loss. [S. 139(1), 139 (3)]

S. 69A : Unexplained money-Failure to explain the source of cash deposit in the bank account-Addition is held to be justified.

S. 54B : Capital gains-Land used for agricultural purposes- Sale of land to builder- Order of the AO is set aside. [S. 45, 264, Art. 226]

S. 45 : Capital gains-Transfer-Permission to builder to start advertising, selling, construction on land-Licence to builder not amounting to possession of asset-Memorandum of compromise in 2003 under which agreement confirmed, and receipt by assessee of part of agreed sale consideration confirmed-Gains arose in previous year in which memorandum of compromise entered into, and taxable in that assessment year. [S. 2(47)(v), 2(47)(vi), Transfer of Property Act, 1882, S.53A]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Interest liability of State Government undertaking on Government Loans converted by order of State Government into equity share capital-No cessation of liability-Addition cannot be made.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payee reflected the said amount as it tax liability-No disallowance can be made.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Interest paid to resident-Second proviso to S.40(a)(ia) is applicable-No disallowance can be made.

S. 37(1) : Business expenditure-Marketing and publicity expenses-Expenditure by way of marketing and publicity expenses for promoting its regional channels ‘Star Pravaha’ and ‘Star Maza’-Held to be allowable as business expenditure.

S. 37(1) : Business expenditure-Capital or revenue-Expenditure incurred on fertility improvement amongst milk animals-Held to be allowable as revenue expenditure.