S. 68 : Cash credits-Cash deposit-Demonetization-Cash sales-Failure to comply notice under section 133(6)-Lump sum addition of Rs 5 lakh was affirmed-Provisions of section 115BBE would apply only to transaction done on or after 1-4-2017.[S.133(6), 115BBE]

S. 56: Income from other sources-Gift of management system to managing trustee-Personal gifts received by trustee has to be considered in individual hands of the donee in her assessment and not in the hands of the trust. [S. 56(2)(x)(a), 132, 153A]

S. 56: Income from other sources-Interest on compensation-
Interest received on compensation/enhanced compensation on acquisition of land by State Government shall be considered as income from other sources and shall be exigible to income tax.

S. 56: Income from other sources-Relinquishment of rights over land-Symbolic possession-Failure to submit details-Amount received assessable as income from other sources and not as capital gains-Insurance refund-Amount received on surrender of life insurance policy-Addition cannot be made as unexplained money-Addition was deleted.[S.2(14), 45, 68]

S. 56: Income from other sources-Valuation of shares-Consideration shown was Rs 1. –Lock-in-Lowest price traded was Rs 22. 88-Mere fact that shares were in lock-in was not sufficient to come to the conclusion that market value shall be determined in a manner similar to that of unquoted shares, i.e. in accordance with rule 11UA-Matter remanded to the file of the Assessing Officer. [R.11UA(1)(c) (b)]

S. 56 : Income from other sources-Capital gains-Acquisition of agricultural land-Wrongly offered as income from other sources-Interest on enhanced compensation-Matter remanded to decide in accordance with law. [S. 10(37), 45, 143(1), Land Acquisition Act, 1894, S, 28, 34]

S. 56: Income from other sources-Agricultural land-Capital gains-Full value of consideration-Stamp valuation-Agricultural land is also covered under section 56 (2)(x)-When the value of land is disputed, the Assessing Officer ought to have referred the matter to the Departmental Valuation Officer (DVO)-Matter remanded. [S.2(14) 50C(2), 56(2)(10)]

S.54F: Capital gains-Investment in a residential house-Sale of shop in February, 2012-Booked flat in December, 2010-Purchase of residential Flat in April, 2016-Entitled to exemption if substantial payment for said flat was made during relevant period or within two years from date of sale of shop-Matter remanded. [S.45, 50C]

S.54F: Capital gains-Investment in a residential house–Purchases–Duplex-Single deed-Entitled to exemption. [S. 45]

S. 54B: Capital gains-Land used for agricultural purposes-land sold was used for agricultural activities for the last two years immediately preceding the date of transfer-Sale proceeds were also utilised for purchase of another land, which was again used for agricultural purposes-Exemption cannot be denied on the ground that after sale land was declared as non-agricultural by Stamp Duty Officer.[S. 45]