S. 68 : Cash credits-Sale of shares-Penny stock-PMC Fin Corp script-Long term capital gains-D-Mat account-Sale through recognized stock exchange-STT paid-Purchasing shares from the stock exchange platform is not unlawful and continuous buying of shares at increased price does not contravene any provisions of SEBI laws-Denial of exemption is not valid. [S.10(38), 45]

S. 68 : Cash credits-Foreign portfolio investor-Sale of shares-Holding more than 10 years as investment-Addition is deleted-DTAA-India-Mauritius.[S.9(1)(i), 115BBE, Art. 22]

S. 68 : Cash credits-Protective basis-Substantive addition is confirmed-Addition is deleted. [S. 45,143(3), Vivad se Vishwas Scheme]

S. 68 : Cash credits-Share application money-Substantial turnover-Established genuineness of transaction-Addition is deleted. [S.56(2)(viib), 131]

S. 57 : Income from other sources-Deductions-Interest-Cost of funds on interest income-Matter remanded.[S. 56, 80P(2)(a)(i)]

S. 56 : Income from other sources-Share premium-Real estate-Assessing Officer had not rejected valuation report duly prepared under rule 11UA-Addition is deleted.[S.56(2)(viib), R.11UA]

S. 56 : Income from other sources-Agricultural lands-Within statutory tolerance margin of 10 per cent-Addition is deleted.[S.56(2)(vii)]

S. 56 : Income from other sources-Deeming provisions of section 56(2)(viib) is not applicable to subscriptions by holding companies-Order of CIT(A) is affirmed. [S.56(2)(viib), R.11UA (1)©]

S. 56 : Income from other sources-Allotted 5 percent non-cumulative redeemable preference shares-Share premium-DCF Method-Report from Merchant banker-Valuation report deserved to be given status of statutory evidence with burden upon Assessing Officer to rebut same with evidences establishing either report was based on incorrect facts and figures, or otherwise, valuation method lacked sanctity to be considered as statutory evidence-Order of CIT(A) is affirmed. [S. 56(2) (viib), R.11UA]

S. 56 : Income from other sources-Purchase consideration for transferring immovable property-Late father in the year 1991 and 1992-Value as on date of agreement should only be compared with actual consideration for purpose of section 56(2)(vii)(b)-Unexplained investment-Difference between stamp value of subject property and actual purchase consideration is only deemed/notional income, same could not be brought with meaning of unexplained investment under section 69. [S.56(2((vii(b), 69]