S. 56 : Income from other sources-Hoarding charges-Not income from house property. [S. 22]

S. 45 : Capital gains-Fair market value as on 1-4-2001-Collector/Circle rate not examined-Matter remanded.[S.48, 55]

S. 45 : Capital gains-Short-term capital gains-Business income-Sale of immovable property-Assessee held to be owner-Alternative finding of adventure in the nature of trade upheld. [S. 28(i), 45, S. 44AD, R. 46A]

S. 45 : Capital gains-Short-term capital loss-Penny stock-Accommodation entries-No independent enquiry-Loss allowable.[S.2(42B), 131, 133A, 143(3)]

S. 37(1): Business expenditure-Lease equalisation reserve-Accounting Standard-19-Not a contingent liability-Deduction allowable. [S. 145]

S. 37(1) : Business expenditure-Mark-to-market loss on foreign exchange hedging-Allowable deduction.

S. 37(1): Business expenditure-Employees’ Stock Option Plan-Discount on issue of shares-Expenditure allowable.

S. 32: Depreciation-Goodwill arising on amalgamation-Allocation of purchase consideration to intangible assets based on valuation-Depreciation allowable-Unabsorbed depreciation-Amalgamation-Set-off of depreciation of earlier years-Allowable. [S. 32(2), 43(1), Expln 7]

S. 28(i) : Business loss-Business expenditure-Irrecoverable advances written off-Claim allowable as business loss.[S. 37(1)]

S.14A: Disallowance of expenditure-Exempt income-Recording of dissatisfaction mandatory before invoking rule 8D-Addition deleted. [R. 8D]