S. 69 : Unexplained investments-Purchase of immoveable property-Source of investment is not doubted-Addition is held to be not valid.

S. 69 : Unexplained investments-Benami transaction-Purchased land for 1.59 crores and sold for Rs.1.62 crores-Land was transferred for taking care-Addition was deleted-Assessing Officer directed to make in depth investigation. [S. 147, 148]

S. 68 : Cash credits-Gifts-Identity and creditworthiness was established-Addition was held to be not justified.

S. 68 : Cash credits-Foreign bank account of deceased father-Information from investigation wing-Failure to provide certified copy of bank account and bank statement-Addition was deleted-Remanded with specific direction to provide certified copy of bank statement and nexus with bank deposits. [S. 5(1)), 147, 148]

S. 68 : Cash credits-Share capital at premium-Valuation report-Real estate-Identity, creditworthiness and genuineness of transactions was proved-Addition was held to be unjustified.

S. 68 : Cash credits-Share capital-Share premium-Share subscriber did not appear for personal attendance-Matter remanded.

S. 68 : Cash credits-Share capital and share premium-Copy of bank statements, confirmation of parties copy of ITR along with balance sheet was furnished-Deletion of addition was held to be justified.

S. 68 : Cash credits-Sundry creditor-Confirmation filed before the CIT(A) was rejected-The addition was deleted.

S. 56 : Income from other sources-Purchase of property-Part payment was made by cheque next day-Agreement and registration was done after one year-Addition was held to be not justified when the provision was not in exist when the agreement was entered in to. [S. 56(2)(vii)(b)]

S. 56 : Income from other sources-Method of valuation of shares-Discount Cash Flow method (DCF)-Method of valuation of shares adopted by assessee could be challenged by Assessing Officer only if it was not a recognized method of valuation as per rule 11UA(2)-Matter remanded. [S. 56(2)(viib), R. 11UA(2)]