S.68:Cash credits — Share capital- Books of account , bank accounts etc were not produced -Dummies or stooges of directors of the assessee company – Failure to offer reasonable explanation — Addition is held to be justified .

S.36(1)(iii): Interest on borrowed capital — New line of business-Amount must have been used for acquisition of asset and asset must have been used – Interest is not allowable.

S.32:Depreciation — Erection of windmills — Amount paid for Infrastructure — Depreciation is allowable.

S. 12AA : Procedure for registration –Trust or institution-Transfer of funds to another charitable institution —Cancellation of registration is not justified [ S. 11, Foreign Contribution ( Regulation ) Act , 2010]

S. 12A : Registration –Trust or institution- Seed certification agency- Advancement of object of general public utility – Entitle to registration .[ S.2(15) ]

S. 2(22)(e):Deemed dividend- Records of Registrar of Companies showing shareholding over 10 Per Cent. — Revised return filed before Registrar of companies subsequent to notice under Section 148- Loans received assessable as deemed dividend [ S. 147, 148 ]

S. 254(1) : Appellate Tribunal –Powers- While setting aside the order of Commissioner , the Appellate Tribunal cannot rewrite the Assessing Officer’s order and improve upon it .[ S. 14A,252, 263 ]

S. 147 : Reassessment –Search in premises of third party revealing unaccounted investments by assessee — Notice is valid [ S.132, 143(1),148 ]

S.143(IA): Assessment- Additional tax –Adjustment- Co-Operative Society —Reduction in loss -Payment of statutory dues not substantiated by evidence — Levy of additional tax is justified.[ S.43B, 80P, 154 ]

S. 80IA :Industrial undertakings – Infrastructure development- Agreement with nodal agency constituted by State Government for infrastructure development —Entitle to deduction .