S. 69C : Unexplained expenditure – Bogus purchases –
Accommodation entries —Trading in gold jewellery – Enhancement by CIT (A) directing to add entire purchases was deleted – Estimate of 10% of bogus purchases Assessing Officer is affirmed . [ S. 132 ]

S. 69 :Unexplained investments – Silver and jewellery belongs to family members – Declared in the wealth tax return to be considered – Addition is held to be not valid [ S.69A , 132 ]

S.68: Cash credits — Balances from earlier years – Matter remanded to the Assessing Officer .

S. 68 : Cash credits – Investment in company – Not producing criminal complaint to prove the source – Addition is held to be justified .

S. 68 : Cash credits – Journal entry – Share application money — Cheques neither presented nor encashed in accounting year- Addition cannot be made .

S.68: Cash Credits — Unsecured Loans —Banking channels- Subsequently adjusted against booking of flat – Addition is held to be not valid .

S.68: Cash credits — Circuitous cash deposits – Three bank accounts – Salaried employee- Addition was confirmed to the extent of Rs 7 ,38 ,000 ]

S. 56: Income from other sources – Income from house property —Lease —Assets – Assessable as income from other sources [ S.22, 24(a) , 56(2) (iii) ]

S. 54 : Capital gains – Profit on sale of property used for residence –
Cost of improvement — Not able to establish – Indexation denied [ S.45 , 48 ]

S. 54 : Capital gains – Profit on sale of property used for residence –
Depositing gains in capital gains accounts scheme before due date for filing return under Section 139(4) of the Act and purchasing new house within two years of transfer -Mere non-compliance with procedural requirement- Denial of exemption is not justified [ S.45 , 54(2) , 54F , 139(1) , 139(2) ]