S. 80G : Donation-Provisional registration-Valid till 2024-25-application under s. 80G(5) in the prescribed form on 26th Sept., 2023-Application filed under S. 80G(5) in the prescribed form on 26th Sept., 2023 is valid application-CIT(E) is directed to treat the application as filed within statutory time.[S.80G(5)]
S.69C: Unexplained expenditure-Alleged bogus purchases-Income from undisclosed sources-No justification in making addition at the rate of 12.5 percent.
S. 69A : Unexplained money-Cash deposits in bank account maintained with a co-operative credit society-Collection agent of the pigmy depositors-Matter remanded to the AO for verification. [S.194H, Form No 26AS]
S. 69 :Unexplained investments-Survey-Unrecorded advances-Cash in hand recorded in the books of account exceed the amount of cash found-Addition is deleted. [S. 133A]
S. 69 :Unexplained investments-Income from undisclosed sources-Alleged bogus purchases-Sales accepted-Input VAT credit and TCS credit-Addition is deleted.[S.68, 69C]
S. 69 :Unexplained investments-Income from undisclosed sources-Cash deposits in bank-Demonetization-Sales accepted-Books of account is not rejected-Addition is deleted. [S. 68, 115BBE]
S. 69 :Unexplained investments-Un explained money-No excess stock-Survey-Merely on the basis of statement no addition can be made.[S.69A, 133A]
S. 56 : Income from other sources-Stamp value-Purchase of property jointly with eight persons-Less than stamp duty value-Addition cannot be made under section 69 of the Act-Provisions in Finance Act, 2013 has clarified that this amendment was not clarificatory in nature-It is categorically mentioned that this amendment was effective from 1st April, 2014 onwards and applicable to Assessment year 2014-15.[56(2)(vii)(b)]
S. 54B : Capital gains-Land used for agricultural purposes-Sufficient if in the two years, the land is used for agricultural purposes-Invested in capital gains scheme-Entitle to exemption. [S. 45]
S. 45(2) : Capital gains-Conversion of a capital asset in to stock-in-trade-Investment-Contribution of land to developer for construction of commercial complex in place of cinema hall-CIT(A) was justified in holding that invocation of S. 45(2) by the AO was not sustainable. [S. 45]