S. 45 : Capital gains–Long term capital gain-Off market transaction-Legal requirements complied with-Addition cannot be made as cash credit. [S. 2(47), 68]

S. 44BB : Mineral oils–Presumptive taxation-Services or facilities in the prospecting for or extraction of mineral oils–Cannot be taxed as business profits or royalties-DTAA–India-UK [S. 2(13), 44DA, Art. 7]

S. 43CA : Transfer of assets-other than capital assets-Full value of consideration-Stock in trade-Agreement value–Stamp valuation-Agreement to sell flats/offices-Under construction-No transfer of land or building–Provision is not applicable. [S. 50C]

S. 43B : Deductions on actual payment–Approval fee-Allowable only on actual payment–Provision is not allowable–Percentage completion method-Amount disallowed to be reduced from work in progress–Matter remanded. [S. 37 (1), 145]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability–liability on account of trade payable is not written back in profit and loss account–No cessation of liability–Addition cannot be made. [S. 2(12A)]

S. 40A(2) : Expenses or payments not deductible–Excessive or unreasonable-Contribution and commission of directors-Directors are paying tax at maximum marginal rate – No disallowances can be made. [S. 36(1)(ii), 37(1), 40A(2)(b), 115-O, Companies Act, 1956, S. 198, 309]

S. 40A(2) : Expenses or payments not deductible–Excessive or unreasonable-Rent-Maintenance charges, location, and applicability of relevant provisions — No evidence regarding unreasonableness of rent-No disallowance can be made. [S. 40(2)(b)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source –Amendment to effect that if tax deducted at source paid on or before due date for filing return disallowance not warranted-Retrospective in operation-Remitting tax deduction at source amount before due date for filing return-No disallowance can be made. [S. 139(1)]

S. 40(a)(ia) : Amounts not deductible-Deduction at source–Burden is on assessee to prove recipient declared income in its gross income-Interest to be calculated for the period of default. [S. 201(1), 201(IA)]

S. 37(1) : Business expenditure–Liquidated damages–Interest-Breach of agreement and not breach of law-Corporate club membership fees-Allowable as deduction. [S. 35ABB]