S. 80M : Inter corporate dividends-Dividend declared in respect of earlier financial years distributed in assessment year in question —Entitled to deduction. [S. 263]

S. 80IA : Industrial undertakings–Infrastructure development-
Operation of Industrial Park approved by competent Authority—Entitle to deduction.

S. 69C : Unexplained expenditure – Addition was made in prior year – Addition cannot be made relevant year.

S. 69 : Unexplained investments-Investment was not satisfactorily explained – Addition is held to be proper. [S. 69A]

S. 68 : Cash credits-Amount outstanding for six years—Addition cannot be made for the relevant accounting year.

S. 68 : Cash credits—loan from wife-Cash was deposited on the same day that cheque for that amount was issued- Addition is held to be justified.

S. 68 : Cash credits — Gifts —Overseas transactions through Bank conclusive proof- Credit worthiness of donor is required to be proved.

S. 36(1)(viia) : Bad debt-Provision for bad and doubtful debts – Schedule bank-Allowable only to the extent statutorily prescribed.

S. 10B : Export oriented undertakings–Manufacture-Cutting and polishing of diamonds amounts to manufacture—Entitled to exemption.

S. 10B : Export oriented undertakings–Manufacture- Purchase of semi-finished garments and making them export worthy-Constitute manufacture – Entitle to exemption.