S. 72 : Carry forward and set off of business losses-Set off of loss returned by Assessee in subsequent assessment years could not be declined only for the reason that assessment for assessment year in which the losses arose, was in progress and pending. [S. 240]

S. 69A : Unexplained money-Salary income-Cash in hand was deposited in bank-Addition cannot be made as unexplained money. [S. 153A]

S. 69A : Unexplained money-Cash found at office premises-Group companies-Accounted in the books of account-Addition is held to be not valid. [S. 132]

S. 69 : Unexplained investments-On money-Purchase of property from developer-Charge sheet filed by the Central Bureau Of Investigation (CBI) in case of developer-No additional evidence was brought by the revenue-Deletion of addition is held to be justified.

S. 68 : Cash credits-Share application money-All 16 Investor companies replied to notice u/s. 133(6) of the Act-Managing Director was not produced due to ill health-Matter remanded to the Assessing Officer-Order passed by the CIT(A) was cryptic and not speaking order-Order was set aside. [S. 131(1(d), 133(6), 250]

S. 68 : Cash credits-Loan-Revenue has accepted loan as genuine in earlier year-News reports in public domain stated that enforcement Directorate stated net worth of party was more than Rs. 1,000 Crores-Addition is held to be not valid. [S. 153A]

S. 68 : Cash credits-Loans-Alleged accommodation entries-Opportunity of cross examination was not provided-Summons was not issued-Loans received and repaid by account payee cheques-Tax was deducted at source-Addition was held to be not valid-Interest on said loans are allowable as deduction. [S. 36(1)(iii), 133(6)]

S. 68 : Cash credits-Share application money-Summons Issued twice returned unserved-Report of inspector that no companies existed at given address-Forfeiture of share application money in immediately succeeding year-Addition is held to be proper.

S. 68 : Cash credits-Loose sheets and data retrieved from mobile phones are not books of account-It may be assessed as business receipts and not as cash credits. [S. 2(12A)]

S. 56 : Income from other source-When the Assessee has adopted DCF method, one of the methods prescribed by the Act to determine fair value, then the AO cannot discard the same and adopt other method-The matter was restored back to the file of AO for afresh decision. [S. 56(2)(vii)(b), R. 11UA]