S. 69A : Unexplained money-Misappropriation of cash -Director – Authorised agent of company-No addition can be made in the hands of the director.

S. 69A : Unexplained money–Seizer of cash from director- Company had shown to have received cash as share capital- Matter remanded for read judication.

S. 69 : Unexplained investment-Immovable property-Assets were acquired in earlier years–No addition can be made for the relevant year.

S. 69 : Unexplained investments-FDRs found from premises of director–Reflected in the accounts of the company–Addition cannot be made as unexplained investments.

S. 68 : Cash credits-Share application money–Balance sheet, profile, bank statements and PAN details of subscriber companies were provided – Addition cannot be made as cash credits. [S. 133(6)]

S. 56 : Income from other sources–Share premium-Fair market value of shares (FMV)- Discounted Cash Flow (DCF)–Book value- Consistently followed the method valuing the shares at discounted cash flow- Share premium cannot be taxed -Addition is deleted. [S. 56(2)(viib), R.11UA]

S. 54F : Capital gains-Investment in a residential house–Full value of consideration-No requirement that sale proceeds alone is to be utilised for making deposit in capital gains scheme-Only one house property as on date of sale of plots-only net consideration is required to be appropriated towards purchase of new asset. [S. 45, 48, 50C]

S. 54 : Capital gains-Profit on sale of property used for residence– Deposit in Capital gain account scheme-Payment to developer within prescribed time-Possession was not obtained-Consumer Redressal Commission had put stay on developer-Exemption cannot be denied-Amount deposited in capital gain account also cannot be taxed though the amount was not utilised with in specified time limit. [S. 45, 54(2)]

S. 54 : Capital gains-Profit on sale of property used for residence- -Investment in purchase of new residential property up to date of filing of his revised return- Entitle to exemption. [S. 139(5)]

S. 45 : Capital gains-Business income-Shares held as investment–Recorded as investment in the books of account at the time of purchase and from year to year–Sale consideration cannot be assessable as business income.[S. 28(i)]