S. 70 : Set off of loss-One source against income from another source-Same head of income-Loss incurred on sale of shares on Stock exchange platform-Securities transaction tax paid-Eligible to be set off against long-term capital gains earned from sale of unlisted shares. [S. 10(38), 45, 71 74]

S. 69C : Unexplained expenditure-Search and seizure-Seizure of diary entries of cash payment to vendors-Names of relatives also mentioned-Affidavit is rejected-Addition is justified. [S.115BBE, 132(4)

S. 69A : Unexplained money-Trading in firecrackers-Cash deposited-Demonetisation-Cannot be assessed as undisclosed income. [S. 145]

S. 69 : Unexplained investments-Unexplained money-Agricultural activities-Mistakenly reported as gross instead net income-Affidavit explaining the facts-Not cross examined-Content is proved to be correct unless rebutted by evidence-Addition is deleted-Delay in filing of appeal is condoned. [S,69A 115BBE]

S. 68 : Cash credits-Cash deposit-Demonetisation period-Business of retail trading in medicine-Books of account not rejected-Addition is deleted. [S. 145]

S. 68 : Cash credits-Sales from branch-Books of account accepted-Cash sales can not be assessed as cash credits. [S. 145]

S. 68 : Cash credits-Cash deposit-Demonetisation period-Agricultural income-Living expenses-Addition to the extent of balance sustained-Rate of tax-Provision for taxing cash credits at sixty Per Cent. introduced from 15-12-2016 is not applicable for earlier period.[S. 115BBEE]

S. 68 : Cash credits-Share application moneys-Premium-Filled all details regarding identity of share allottees, their Permanent Account Number Cards, Passports, acknowledgment of income-Tax Returns, Bank Statements etc-Addition is deleted. [S.56(2)(viib)]

S. 119 : Central Board of Direct Taxes- Circular – Property held for charitable purposes – –Form No. 10B was filed manually before due date of filing of return – Mandatory e-filing of Form 10B – Delay of 2732 days in filing the form electronically –Delay is condoned –The delay should be condoned as long as such lapse is not mala fide and the assesseee has not derived any undue advantage out of his own lapse – Order of CIT( E) rejecting the application for condonation of delay is quashed and set aside . [S. 11, 119 (2)(b) , 139(9), 143(1), 154, Art. 226 ]

S. 68 : Cash credits-Cash deposits-Demonetisation period-Retail sale of ladies garments-Application of net profit of 8 Per Cent. on cash deposit is to be treated as income from business and not to be taxed as unexplained money.[S.44AB, 44AD, 69A, 115BBE]