S. 69A : Unexplained money-Gift-Denied by donor-Order of Tribunal deleting the addition is set aside.[S. 260A]

S. 43(5) : Speculative transaction-Business Expenditure-Business loss-Hedging contracts with bank to guard against loss Foreign exchange fluctuation-Not speculative transaction-Loss is allowable.[S. 28(i), 37(1), 260A]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Payments to Non-Resident-No part of income arose or accrued in India-No tax deductible at source-Deletion of disallowance is affirmed.[S. 260A]

S. 37(1) : Business expenditure-Interest on overdue deposits-Ascertained liability-Provision for bad and doubtful debts allowable as deduction. [S. 36(1)(vii), 145]

S. 32 : Depreciation-Temporary erections wooden structures-Depreciation allowable at 100 Percent.

S. 28(i) : Business loss-Penny stock-Share trading-Information from investigation wing-VAS Insfracture Ltd (VASIL)-Not black listed by SEBI-Order of Tribunal allowing the loss is affirmed by High Court-Delay of 224 days-SLP of Revenue is dismissed on account of delay. [S. 10(38), 45, Art. 136]

S. 14A : Disallowance of expenditure-Exempt income-Shares held as stock in trade-No disallowance can be made.[R. 8D]

S. 11 : Property held for charitable purposes-Information to charity commissioner-Remuneration to trustees-Denial of exemption is not justified. [S. 13(1)(c), 260A]

S. 11 : Property held for charitable purposes-Information to charity commissioner-Remuneration to trustees-Denial of exemption is not justified-SLP of Revenue is dismissed. [S. 13(1)(c), 260A]

S. 10(25) : Approved superannuation fund-Exemption-Only Chief Commissioner has power to withdraw approval-Approval not withdrawn-Denial of approval on ground that conditions for approval had not been complied with-Order of denial is not valid.[S. 10(25)(iii)]