Unexplained deposits – sale of properties - ITAT has noted that declaration for purpose of capital account, in Form 2-B, has been made by assessee - since the transaction was through banking channels, ITAT deleted the additions - ITAT opined that the investments shown by the Assessee stand fully corroborated by documentary evidence - onus whether the Assessee had received more consideration than what was stated in the documents of transfer rested on the Revenue –additions were rightly deleted
Whether the foreign exchange earned by transferring the right of exploitation of the films outside India by way of lease is admissible for deduction u/s 80HHC – Department submit that movies/films are not goods/merchandise - held that such "rights" would fall in the category of articles of trade and commerce, hence, merchandise – further, there is merit in the contention of assessee that u/r 9A & 9B, the word "lease" is included in the word "sale" hence subject transaction will fall u/s 80HHC
