S. 80P : Co-operative societies-Letting of godown-Milk parlours cannot be considered as godowns or warehouses as contemplated under section 80P(2)(e) and hence, rental income derived from letting of milk parlours will not be eligible for deduction under section 80P(2)(e) of the Act. [S. 80P(2)(e)]

S. 80P : Co-operative societies-Interest-Bank-Bank not being a co-operative society interest income could not be said to attributable to activities of co-operative society-Not eligible for deduction-Interest income reduced by administrative expenses and other proportionate expenses to earn said income had to be brought to tax as income from other sources. [S. 56, 57, 80P(2)(d)]

S. 80IA : Industrial undertakings-Infrastructure development-Partnership firm-Executed works contract-Not eligible deduction [S. 800IA(4), 80IA(13)]

S. 80G : Donation-Expenses incurred under Corporate Social Responsibility Scheme under provisions of Companies Act are eligible for deduction-Matter remanded. [S. 37(1)]

S. 80G : Donation-CSR expenses-Denial of deduction merely because donation forms part of CSR as it would lead to double disallowance is held to be not valid. [S. 37(1)]

S. 80 : Return for losses-Return of income within prescribed time-Audited financial statements could not be filed along with return of income as accounts were not audited by that time-Denial of carry forward of business loss is not justified. [S. 44AB, 72, 139(9)]

S. 69C : Unexplained expenditure-Bogus purchases-Justified in deleting 100 percent disallowance and disallowing to 12.5% out of bogus purchases.

S. 69A : Unexplained money-Demonetization deposit-Mere mismatch of denominations of currency notes would not lead to addition where currencies of past savings might have mixed with currencies withdrawn.

S. 68 : Cash credits-Share capital-Transaction through account payee cheques, bank statements filed-Addition is not valid. [S. 133(6)]

S. 68 : Cash credits-Share application-Entries were circulating in nature-Failed to establish creditworthiness or genuineness of transaction-Addition is held to be justified.