S. 69C : Unexplained expenditure-Bogus purchases-Ad-hoc addition-Only difference between gross profit rate on genuine purchases and gross profit rate on alleged hawala can be added-Once reassessment is held to be valid-Free to assess any other income. [S.147, 148]

S. 69B : Amounts of investments not fully disclosed in books of account-Investment in stock-Finding based on search conducted by DGCI-Order set aside by CESTAT-Addition was to be deleted.

S. 69A : Unexplained money-Gold inherited from mother-Sale proceeds of gold-Not shown in the balance sheet-Addition is held to be not justified when there is no statutory provision to show in the balance sheet.

S. 68 : Cash credits-Share capital-Investors had sufficient net worth-Addition is held to be not justified.

S. 56 : Income from other Sources-Shares-Valuation-Net Asset Value (NAV) method-Discounted Cash Flow (DCF) method-Choice is with assessee-Assessing Officer can determine a fresh valuation but cannot change method of valuation which has been opted by assessee-Matter remanded. [S. 56(2)(viib), R.11UA]

S. 56 : Income from other sources-Share premium-Method of valuation-Discounted cash flow method, or book value method-Choice is with assessee-Revenue cannot force assessee to adopt particular method for valuing fair market value of share. [S. 56(2)(viib), R.11UA(1)(c)(b), 11UA(2)(B)]

S. 56 : Income from other sources-Deemed gift-Agreement for purchase of flat-stamp duty valuation or fair market value of immovable property was to be considered as on date of payment made by assessee towards booking of flat. [S. 56(2)(viii)]

S. 56 : Income from other sources-Valuation of shares-Share premium-As per rule 11UA(1)(c)(b), it is prerogative of assessee to estimate fair market value of shares issued by it by adopting one method out of two methods i.e. discounted cash flow method or book value method, and that revenue authorities cannot force assessee to adopt particular method for valuing fair market value of share. [S. 56(2)(viib), R. 11UA]

S. 54F : Capital gains-Investment in a residential house-Invested in capital gain account scheme-Gains along with minor children-Sale of equity shares of Pvt. Ltd. company-Entitle to exemption-More than one house-Matter remanded for verification. [S.45, 64]

S. 54F : Capital gains-Investment in a residential house-Mere name of the assessee in the purchase deed cannot be ground to reject the claim of exemption. [S. 45]