S. 68 : Cash credits-Cash deposit-Demonetisation period-Agricultural income-Living expenses-Addition to the extent of balance sustained-Rate of tax-Provision for taxing cash credits at sixty Per Cent. introduced from 15-12-2016 is not applicable for earlier period.[S. 115BBEE]

S. 68 : Cash credits-Share application moneys-Premium-Filled all details regarding identity of share allottees, their Permanent Account Number Cards, Passports, acknowledgment of income-Tax Returns, Bank Statements etc-Addition is deleted. [S.56(2)(viib)]

S. 119 : Central Board of Direct Taxes- Circular – Property held for charitable purposes – –Form No. 10B was filed manually before due date of filing of return – Mandatory e-filing of Form 10B – Delay of 2732 days in filing the form electronically –Delay is condoned –The delay should be condoned as long as such lapse is not mala fide and the assesseee has not derived any undue advantage out of his own lapse – Order of CIT( E) rejecting the application for condonation of delay is quashed and set aside . [S. 11, 119 (2)(b) , 139(9), 143(1), 154, Art. 226 ]

S. 68 : Cash credits-Cash deposits-Demonetisation period-Retail sale of ladies garments-Application of net profit of 8 Per Cent. on cash deposit is to be treated as income from business and not to be taxed as unexplained money.[S.44AB, 44AD, 69A, 115BBE]

S. 68 : Cash credits-Long-term capital gains-Penny stock-Accommodation entry-International Conveyors Ltd-Addition is deleted.[S. 10(38), 45, 115BBE]

S. 68 : Cash credits-Long-term capital gains-Penny stock-Magrigold Glass Industries Ltd (now known as Greencrest Financial Services Ltd)-No evidence of conversion of unaccounted money to bogus long-term capital gains-Securities and Exchange Board of India enquiry not producing anything incriminating on company or its directors-Order of CIT(A) is affirmed.[S. 10(38), 45]

S. 68 : Cash credits-Cash deposit-Demonetisation-Cash sales-Trading in jewellery-No discrepancy in books of account-Recording of customers’ Permanent Account Number is not legally mandated for sales not exceeding Rs. 2 Lakhs-Source for cash deposits out of traceable source-Order of CIT(A) deleting the addition is affirmed. [S.115BBE, R. 114B]

S. 68 : Cash credits-Fictitious transactions-Losses can be set off-Entire exercise becoming tax neutral-Derivative gain-Addition is deleted.

S. 54F : Capital gains-Investment in a residential house-Allotment letter-Flat under construction-Date of issue of allotment letter more than 36 months-Long term capital gains-No bar on appellate authorities to entertain claim-Directed to allow deduction after verification. [S. 2(29A), 45, 139]

S. 45 : Capital gains-Long-term capital gains-Merely on the basis of Audit report addition cannot be made. [S.143(1)]