S. 68 : Cash credits – Agriculturist – Bank deposits -Non-filing of ITR – additions on account of unexplained cash deposited in savings bank account & income from LTCG on the sale of agricultural land- ex-parte assessment order – Assessee was required to substantiate his income before the AO with proper and supporting evidence – matter remanded.[ S. 2(14), 45 ]

S. 68 : Cash credits – Demonetisation – Specified Bank notes – Sales – Matter remanded to the Assessing Officer .[ S. 115BBE ]

S. 68: Cash credits – Share capital – Share premium – Assessee had demonstrated that subscribing companies were having adequate reserves and surpluses to invest- Addition is deleted .
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S. 56: Income from other sources – Stamp valuation- Allotment letter – Registration- AO made addition as stamp duty value more than consideration paid –Consideration paid was as per allotment latter and not date of registration – Entitled to the benefits of proviso to Section 56(2)(vii)(b). [ S. 56(2)(viib ), 143(2) ]

S. 56: Income from other sources – Interest on compensation- Assessable as income from other sources . [ S.10(37), Land Acquisition Act , 1894 , S 28 ]

S. 56: Income from other sources – Share premium – Conversion of a loan into share capital does not exonerate the assessee from the application of S.56(2)(viib)- Addition is affirmed . [ S. 56(2)(viib) ]

S. 56 : Income from other sources – Purchase of properties/payment of sale consideration & taking possession of property – Subsequent registration of sale Deed in the relevant AY – Addition deleted – Non-speaking order – Violation of principles of natural justice. [ S. 56(2)(x)(b) ]

S. 54F: Capital gains – -Investment in residential house – 50% ownership in property – Does not own more than one house at the time of the transfer of the original capital asset, would be entitled to claim the exemption u/s.54F, even if they lack absolute ownership of the property they are selling. [ S. 45 ]

S. 54 : Capital gains – Profit on sale of property used for residence – Property purchased by HUF – Through General Power of Attorney held by a coparcener – Held, valid transaction – Eligible for exemption . [ S. 45 ]

S. 50C : Capital gains – Full value of consideration – Valuation for the purposes of Stamp Duty –Development rights – Assessee holding the land title in her name only for technical purposes – development rights of the land transferred to the partnership firm where assessee was a partner –.Assignment of development rights provision is not applicable . [ S. 45 ]