S. 145 : Method of accounting–Not maintaining of stock record-Rejection of books of account is held to be valid-CIT(A) has the power of enhancement after giving an opportunity of hearing-No substantial question of law.[S. 145(3), 251]

S. 142(2A) : Inquiry before assessment–Special audit–Complexity in accounts–Order to Special audit is held to be valid-Juristic person like a company cannot file a writ petition. [Art. 226]

S. 80IB(10) : Housing projects- Condition that completion certificate must be obtained within four years from local authority -Amendment is not retrospective —Not applicable prior to 1-4-2005 – Order of Tribunal quashing the reassessment is held to be valid. [S. 147, 148]

S. 68 : Cash credits–Loan–Accommodation entries-Creditor admitting loan was not genuine–Retraction of admission after more than two years–No evidence was produced to prove genuineness of loan-Order of Tribunal is affirmed-No substantial question of law. [S. 131, 133A, 260A]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Contractors-Turnover did not exceed monetary limit prescribed under the Act for tax audit – Not liable to deduct tax at source-Disallowance cannot be made for failure to deduct tax at source. [S. 44AB, 194C]

S. 10A : Free trade zone-Disallowance of expenses-Enhanced profit due to statutory disallowances–Entitle to deduction. [S.40(a)(ia)]

S. 10(23EA) : Investor Protection Fund–Trust which is qualified under Sections 11 to 13 could also claim exemption–Rejection of claim is held to be not justified. [S. 11, 12, 13]

S. 43B : Deductions on actual payment – Provision for leave encashment- Not allowable as deduction .[ S.43B(f) ]

S. 69C : Unexplained expenditure – Bogus purchases – AO cannot blow hot & cold by disallowing the purchases from a party as bogus while treating sales to same party as genuine-Entire purchases cannot be disallowed – Percentage of addition to gross profit is held to be justified.

S. 68 : Cash credits – Share capital – Share premium- Additional grounds -Photocopies of blank share transfer forms, blank signed receipts etc necessary for transfer of shares found with assessee are not admissible as evidence u/s 61 of Evidence Act and not incriminating in nature- All investors are assessed & have filed confirmations with trail of funds- AO did not make further inquiry into the documentary evidences or verify the trail of source of funds-Addition is held to be not justified . [ S.132(4) ,145A, 153A Evidence Act ,S.61 ].