S. 69 : Unexplained investments-Cash deposited in bank account-Remand report-Once the AO has examined the document so produced by the assessee and recorded his satisfaction regarding the identity of the donors, genuineness of the gifts and sources of such gifts, the assessee has discharged the necessary onus cast on her and the addition directed to be deleted.

S. 69 : Unexplained investments-Income from undisclosed sources-Information coming to assessing officer of bank accounts in switzerland relating to assessee-Interest on balance in accounts computed and treated as undisclosed income-Tribunal for earlier year holding assessee not owner of amount in accounts and interest cannot be added in assessee’s hands.

S. 68 : Cash credits-Sale of shares-Neither assessee nor his brokers were named as illegitimate beneficiaries to bogus LTCG in any reports/orders of investigation wing-Assessable as long term capital gains.[S. 10(38), 45, 115BBE]

S. 68 : Cash credits-Share capital-Established identity and creditworthiness by filing copy of confirmation of accounts, copy of PAN card, bank statement ITR acknowledgement and financial statements-Addition is held to be not justified.

S. 68 : Cash credits-Unsecured Loans-Initial burden is discharged by assessee-Low profit in return of income doesn’t mean no creditworthiness-Addition deleted.

S. 56 : Income from other sources-Agricultural land purchased situated outside 8 km of municipal area is not a capital asset-Addition is not justified. [S. 2(14), 56(2)(vii)(b)]

S. 56 : Income from other sources-Shares at premium-DCF Method-The Assessing Officer cannot value on Net Asset value (NAV)-Order set aside and remanded to examine the issue afresh. [S. 56(2)(viib), R.11UA]

S. 54F : Capital gains-Investment in a residential house-Sale of land-Assessable as capital gain-Entitle for exemption. [S. 28(i), 45]

S. 54F : Capital gains-Investment in a residential house-Deposit in capital gain account scheme-Gain can be charged to tax after expiry of three years from date of sale of a property if same was not utilised for construction of new residential house as assessee’s income for said third year. [S. 45]

S. 54F : Capital gains-Investment in a residential house-Entire sale consideration was in construction of house-Exemption cannot be denied on the ground that consideration was not deposited in capital gain scheme. [S. 54F(4), 139(1)]