S. 80P : Co-operative societies-Tapping toddy from their farms-Sold through licensed shops-Not entitle to deduction. [S.80P(2)(a), 80P(2)(a)(iii), 80P(2)(a)(vi)]

S. 80P : Co-operative societies-Credit facilities to members-Interest on parking surplus funds in fixed deposits-Interest income is allowed as deduction. [ S. 80P(2)(a)(i)]

S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Liquidated damages-Sale of scrap-Miscellaneous income-Sundry creditors written back-Eligible for deduction.

S. 79 : Carry forward and set off losses-Change in share holdings-Companies which public are not substantial interested-Beneficially held more than 51 per cent of voting powers in both the years-The year in which the loss is incurred and the year in which the loss is sought to be set off-Share holding of one share holder is increased from 40 percent to 85 percent-Set off of brought forward losses is allowable.

S. 69C : Unexplained expenditure-Survey-Loose papers-Cash expenses-Unexplained receipts and expenditure-Order of CIT(A) is affirmed. [ S. 133A]

S. 69A : Unexplained money-Sale of land-Share holders-Unaccounted cash-Addition is deleted.

S. 69 : Unexplained investments-Income from undisclosed sources-Gift-Father and mother-Affidavits-Accepted as genuine-Gift from grand mother-Failure to produce evidence-Addition is affirmed. [ S.68]

S. 69 : Unexplained investments-Genuineness of purchases-Parties have not filed the return-No confirmation from the books of account of those parties-Addition is affirmed.

S. 69 : Unexplained investments-Cash deposits-Sale of unbranded electric items-Profit is estimated at 10% on alleged unaccounted business.

S. 69 : Unexplained investments-Unrecorded sales-Only gross profit is estimated-Cash deposited in banks-When profit is estimated further addition is deleted-Reassessment is held to be valid. [ S. 147, 148]