S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Audit report-Not filed along with the return-Amendment with effect from 1-4-2020-Not raised before the Tribunal-Cannot be raised first time before High Court.[S. 44AB, 80IA(4)(v), 80IA(7) 80AC, 260A, Form No 10CCB]

S. 69C : Unexplained expenditure-Bogus purchases-Purchases through banks-Material purchased was consumed in executing contract-Order of Tribunal restriction of addition to profit element at 12.5 percent alleged bogus purchases is affirmed. [S.44AB, 260A]

S. 68 : Cash credits-Long-term capital gains-Penny stock-Accommodation entries-Deletion of addition by the Tribunal is affirmed-No substantial question of law. [S. 45, 115BBE, 260A]

S. 45 : Capital gains-Non-Resident-Sale of debt instruments in India-Certificate of Singapore Tax Authorities that income from foreign exchange transactions in India be taxable in Singapore-Entitled to exemption-DTAA-India-Singapore.[Art, 13(4), 24]

S. 44BB : Mineral oils-Computation-Presumptive tax-Non-resident-Service tax collected-Not includible in gross receipt. [S.44BB(2)]

S. 44BB : Mineral oils-Computation-Presumptive tax-Non-resident-Service tax collected-Not includible in gross receipt-SLP of Revenue is dismissed [S.44BB(2)]

S. 44 : Insurance business-Computation of profits-The rules contained in the First Schedule appended to the Act will determine the manner in which the profits and gains of insurance business are to be ascertained. [S.14, 28, 43B, 199]

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-No evidence of cessation of Liability-Order of Tribunal is affirmed. [ S. 260A )

S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Liability is converted into loan and repaid-Deletion of addition is justified.

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Credit card processing fees-Not commission-Not liable to deduct tax at source.[S. 194H]