S. 68 : Cash credits-Long term Capital gains-Report from Investigation Wing-STT paid-primary documents to prove purchase/allotment of shares i.e., share certificate, bank statement highlighting the payment made for purchase of shares, demat statement, etc,-AO is directed to delete the addition and to allow the exemption under s. 10(38) on sale of shares. [S. 10(38), 45]
S. 68 : Cash credits-Capital gains-Penny stock-Report from Investigation Wing-CI Ltd-Shares held for five years-Neither statements are not provided nor an opportunity of cross examination-Addition is deleted-Allowed exemption. [S. 10(38), 45]
S. 68 : Cash credits-Value of property received as gift from father-Accounting entries-Addition cannot be made.
S. 68 : Cash credits-Cash deposits-Demonetization-Sales has been accepted-Books of accounts are not rejected-Addition is deleted.[S. 133(6)]
S.54F : Capital gains-Investment in a residential house-Construction of first floor with separate kitchen, electric connection, water connection, etc-Entitle to exemption-Amount received back-Cancellation of deal of property-Addition is deleted. [S. 45, 68]
S. 54 : Capital gains-Profit on sale of property used for residence-Co-Owner-Sale of old asset-Allowed the claim in the name of Co-0wner-Order of CIT(A) is affirmed.[S. 45]
S. 50 : Capital gains-Depreciable asset-Long term capital gains-More than 36 months-Rate of tax is 20 per cent. [S.2(42A), 48, 49, 112]
S. 48 : Capital gains-Mode of Computation-Indexed cost-AO is directed to allow the above two additional deductions while calculating the long-term capital gains in addition to the deductions already allowed by the AO in respect of indexed cost of acquisition of plot.[S. 45]
S. 48 : Capital gains-Mode of Computation-Cost of improvement-Payment made to builder-No reference in sales deed-Allowable as deduction. [S. 45]
S.45:Capital gains-Suppression of sale-Paper seized from the premises of purchaser-Loose papers-Matter is restored back to the file of the CIT(A) for fresh determination of the issue in accordance with law after making enquiries or causing enquiry through the AO. [S. 48,131, 251]