S. 68 : Cash credits-Unexplained cash deposits-Demonetisation-No defects in the books of account-Stock register-Cash sales duly offered to tax have been accepted-Bringing the realization of sale proceeds in cash to tax will amount to double taxation and the same is clearly unsustainable in law.[S. 145]

S. 56 : Income from other sources-Share premium-Valuation of shares of company on NAV method and its subsidiary on DCF method-Method adopted by Assessee to be accepted.[S.56(2)(viib), R. 11UA]

S. 54F : Capital gains-Investment in a residential house-Joint names-Income has to be assessed in the right person-Indexation benefit is available. [S. 4, 45, 54]

S. 54B : Capital gains-Land used for agricultural purposes-Entitled to exemptions even if the new land is registered in the name of his son-Investment by assessee in new land from sale proceeds of old land, even if made before registration of sale-deed, was eligible for exemption. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Utilized other funds (apart from sale consideration) for constructing new residential house-Deduction under section 54 could not be denied [S. 139(4)]

S. 54 : Capital gains-Profit on sale of property used for residence-Capital gains exemption-Date of possession-Date of agreement-Date of possession considered as date of purchase-Beneficial provisions to be liberally interpreted.[S.45, 144C, 147]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Date of agreement and date of sale-Part payment of consideration was received prior to execution of agreement to sell As Shown By Bank Statement Of Assessee-Jantri rate applicable as on date of agreement to sell was much lower than agreed price-Entitled to benefit of first and second provisos to Section 50C-Addition is deleted. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-No part of consideration was received in cheque before agreement-Sale consideration for capital gains should be assessed based on the date of registration rather than the agreement date-Reinvesting proceeds from sale of agricultural land in new agricultural land registered in the name of son-Denial of exemption is not valid. [S.45, 54B]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Applicability to sale of stock-in-trade-Conversion of capital asset to stock-in-trade-Section 50C is not applicable on sale of stock-in-trade-Reopening based on audit objection is invalid [S. 147, 148]

S. 48 : Capital gains-Mode of Computation-Brokerage or commission in connection with transfer-Disallowance cannot be made only because agreements with respect to commission services not submitted-Disallowance is not justified-Cost of improvement-New pleas could not be raised before Tribunal [S.45]