S. 69 :Unexplained investments-Cash Credits-unexplained advances-Cash and stock discrepancies-Survey-Retraction-Senior Citizen-Retraction is valid-Shortage of stock-Gross profit rate of 8.02 Per Cent-Statement recorded under Section 131 has no evidentiary value in absence of corroborative evidence-Assessment of disclosed income is invalid-Diary found during survey-Entries giving names and amounts without other details-No inquiry made to establish genuineness of transactions-Addition is not justified-Excess cash found during survey-Addition is affirmed. [S.131, 133A]

S. 69 : Unexplained investments-Unexplained money-Survey-Deeming provision-Statement in the course of survey-Bald allegation of Assessing Officer is not sufficient to consider income declared as unexplained investment-Income offered in the course of survey cannot be assessed as unexplained and has to be assessed as business income. [S. 69A, 115BBE, 133A]

S. 68 : Cash credits-Unexplained expenditure-Share application money-Information from Investigation wing-Accommodation entries-Transactions through banking channels and companies having sufficient financial reserves to provide credits-Burden discharged. [S.69C, 131, 133(6)]

S. 68 : Cash credits-Unexplained money-Withdrawals in cash and utilisation towards deposits-No defect in cash flow statement-Addition is deleted.[S.69]

S. 68 : Cash credits-Unsecured loans-Filed copies of income-tax return acknowledgments, master-data of lenders, audited financial statements, memorandum and articles of association, copies of bank statements, loan confirmations and ledgers showing receipt and refund of loans with tax deducted at source-Burden discharged-Addition is deleted. [S.133(6)]

S. 68 : Cash credits-Unexplained investments-Long-term Capital gains-Penny stock-Kappac Pharma-Suspected scrip-Scrip discredited by investigation report and Stock Exchange Boards-No material to contrary brought on record-Addition made on presumptions and human probabilities-Addition is deleted-Allowed exemption. [S. 10(38) 45, 69C]

S. 68 : Cash credits-Accommodation entries-Share capital, share premium and unsecured loan-Earning commission income a 20 Paise Per Rs. 100-Credit and debit entries in the bank account-Addition is deleted.

S. 55A : Capital gains-Reference to Valuation Officer-Computation-Cost of acquisition-Value as on 1-4-1981-Reference To Valuation Officer-Amendment With Effect From 1-7-2012-Substitution of words is at variance with its fair market value for is less than its fair market value-Reference can be made to Departmental valuation Officer only where value shown by assessee is less than fair market value-Declaring value as on 1-4-1981 at figure higher than value determined by Departmental Valuation Officer-Value adopted by Departmental Valuation Officer could not be taken for computing fair market value.[S.45,55A(a)]

S. 54 : Capital gains-Profit on sale of property used for residence-Not fulfilling conditions-Denial of deduction is not proper. [S. 45]

S. 40(a)(ia) : Amounts not deductible-Deduction at source-Cash credits-Service tax out standing-Additional evidence is admitted-Matter is remanded for fresh adjudication. [S.43B, 68, 145A(ii), Form No 26A]