S. 70 : Set off of loss-One source against income from another source-Same head of income-Short term capital loss-Under provisions of section 70(2), STCL arising from any asset could be set off against STCG arising from any other asset under a similar computation made irrespective of different rate of tax. [S.70(2)]

S. 69C : Unexplained expenditure-Purchases-Submitted addresses, GST No. PAN No., amount of purchases (Net of VAT), bill/voucher/challan issued by parties mentioned details of assessee, excise duty paid, details of truck/challan no., order no. etc.-Payment were made through cheques-Notice sent under section 133(6) through ITBA portal was not responded-Purchases cannot be treated as non-genuine merely because the parties have not responded to notice sent under section 133(6) Addition is deleted. [S. 133(6)]

S. 69A : Unexplained money-Demonetization-Cash deposited-Bank account-Registered dealer under VAT Act-Addition is deleted as regards cash deposit and net profit is restricted to 3% of turnover as against 8% estimated by the Assessing Officer.[S.44AD]

S. 69A : Unexplained money-Search-Gold jewellery-Surrender of income-Gold and silver seized-CBDT Instruction-500 gms-Addition is deleted-Cash of Rs. 1lakh-Addition is deleted. [S. 132(4)]

S. 69 : Unexplained investments-Seized documents-Hard disk-Investment in shares under FDI route-Allegation of Hawala-Source of source also explained-Addition were made on merely based on suspicion-Addition is deleted.[S.153C, 292C]

S. 68 : Cash credits-Share capital and share premium-Furnished copy of certificate of incorporation along with MOA and AOA, auditor’s report, balance sheet, trading and profit and loss account-Addition is deleted.[S. 56(2)(viib), R.11UA]

S. 61 : Revocable transfer of assets-Trust-Settlor-Income arising from revocable transfer of assets is taxable in hands of transferor, i.e., settler of revocable trust and it is to be clubbed in total income of transferor and not in total income of transferee of assets-Addition is deleted. [S. 62 63, 148]

S. 56 : Income from other sources-Share premium-Valued as per Rule 11UA(2)(b)-Discount Cash Flow Method (DCF)-The rejection of valuation is set aside. [S. 56(2)(viib), R.11UA]

S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Indexed cost-Interest on loan-No direct cost of acquisition of property purchased-Cannot be included in cost of acquisition of property.[S.45, 48]

S. 54F : Capital gains-Investment in a residential house-Triplex Flat-Triplex flat purchased which had common living area, common kitchen and several rooms satisfied definition of a single residential unit and would qualify for exemption.[S. 45]