S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation-Amalgamation-Amalgamation scheme approved by High Court-All three conditions of s. 72A(2) cumulatively and required of rule 9C fulfilled-Intention behind merger ratified-AO rightly directed by CIT(A) to allow set off losses of amalgamating company in hands of the assessee. [S. 72A(2)]

S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation-Losses of amalgamating company-High Court approved the scheme of merger-The merger scheme cannot be disturbed by the Revenue by merely alleging that the merger was only to buy losses and that it is a colourable device. [R. 9C Companies Act, 1956 S. 391(7)]

S. 72A : Carry forward and set off of accumulated loss and unabsorbed depreciation-Amalgamation-Assessing Officer had rejected claim for carry forward of business loss-loss is not available to set off. [S. 79]

S. 69C : Unexplained expenditure-Bogus purchases-If purchases are accepted in subsequent years, information/reasons based solely on investigation wing report and on statement recorded of third party with no independent satisfaction of AO, no opportunity to cross-examine parties then reopening and addition not sustainable [S. 143(3), 147, 148]

S. 69C : Unexplained expenditure-Cash credits-Method of accounting-Unexplained expenditure-Difference between amount reflected in books of account and in Form 26AS-No defects in the books of account-Addition was deleted [S.68, 133(6), 145, Form No 26AS]

S. 69C : Unexplained expenditure-Expenditure on raising of loan-Notional and hypothetical addition-Cannot be sustained.

S. 69C : Unexplained expenditure-Miscellaneous expenses-Self made vouchers-Allowable as deduction.

S. 69C : Unexplained expenditure-Transportation expenses-Mistake of accountant-Salary expenditure has been shown as expenses along with transportation expenses-Disallowance is not justified.

S. 69C : Unexplained expenditure-Office expenses-Inadvertent error-Salary and wages-Wrongly debited to office expenses-Addition is not justified.

S. 69C : Unexplained expenditure-Site expenses-Support services To telecommunication operators and functioning at more than 3,300 work sites-Not Tenable.[S. 144, 145]