S. 69: Unexplained investment – Source investment – Loan from mother and brother – Addition is deleted .

S. 56: Income from other sources – Share premium received by a private company – DCF Method is a valid method under rule 11UA – No defects pointed out in valuation report- Addition is deleted . [S . 56(2)(viib) , R.11UA ]

S.45 : Capital gains- Beneficial owner – Co-owner – Entire sale consideration declared in return of income filed by assessee’s brother – Addition can not be made in the hands of assessee.[ S. 54F ]

S 37(1) : Business expenditure – Ad-hoc disallowance – AO neither rejected books of account nor pointed out any bogus or non-genuine expenses – Remand report did not pointed out any specific defects.[ S. 144, 145(3) ]

S 37(1): Business expenditure – Market development expenses – Capital or revenue – Expenses incurred towards sale of product- Revenue nature .

S. 271(1)(c) : Penalty-Concealment-Book profit-Penalty is not leviable. [S. 115JB]

S. 271AAB:Peanlty-Search initiated on or after Ist day of July 2012-Undisclosed income-Detection of unexplained liabilities and expenses-Incriminating were found in the course of search-Not specifying the limb-Order of levying the penalty is affirmed. [S. 132]

S. 268A : Appeal-Instructions-Circulars-Monetary limits-Appelllate Tribunal-Earlier years appeals are admitted by High Court and pending for final hearing-Issue covered by Supreme Court-Tax effect is below monitory limit-Appeal is not maintainable-Delay of 516 days.[S. 253(2)) 253(5)]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Invalid reassessment cannot be set aside under section 263-Reopened to examine cash deposits-No addition was made-Revision on the ground that the AO has wrongly allowed exemption under section 54B and 54F-Revision order is quashed and set aside.[S.54B, 54F, 147, 148]

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Assessing Officer partly disallowed the claim-Reassessment order is quashed-[S. 56, 57, 263, Explanation 2.]