S. 68 : Cash credits-Partner-Firm declaring income under Income Declaration Scheme but not paying taxes thereon-Income belonging to firm whether disclosed or undisclosed to be taxed only in hands of firm and not in hands of partner-Share of income from firm not taxable in Assessee’s hands. [S.10(2A)-Income-Circular No. 8 of 2014, Dated 31-3-2014 [2014] 362 ITR(St) 33

S. 68 : Cash credits-Demonetisation-Trading in gold and diamond jewellery and precious stones-Receipts from sales-Sales recorded in sales register, stock register, cash book and forming part of overall sales credited in profit and loss account and offered to tax as business income-Addition cannot be made as cash credits. [S. 132(4)]

S. 68 : Cash credits-Unsecured loans-Identity and genuineness is proved-Deletion of addition is affirmed-Reassessment-Information from Investigation Wing Without correlating and verifying with assessment records-Re assessment is bad in law.[S. 147, 148]

S. 68 : Cash credits-Credit worthiness and genuineness of transactions filed-Loans received through banking channels-Addition is deleted-Estimate of agricultural income is affirmed . [ S.133(6) ]

S. 68 : Cash credits-Sale of agricultural land-Cash deposited in the bank account-Source of deposit explained-Addition is deleted-Re assessment is quashed. [S. 69,147, 148]

S. 68 : Cash credits-Share Capital-Furnished bank statements, audited accounts and computations of income-Companies’ cases subjected to scrutiny assessment-Source of source explained-Shareholders and directors of companies not attending in response to summons-Not ground to tax credits. [S. 131]

S. 57 : Income from other sources-Deductions-Interest paid on unsecured loans taken from family members Claimed Against interest earned on fixed deposits with banks-Matter remanded. [S. 40A(2)(b), 56]

S. 57 : Income from other sources-Deductions-External commercial borrowings advanced as loans to sister concerns-Interest expenditure directly related to interest earned-Violation of Reserve Bank of India guidelines not relevant for allowance of deduction-Deduction is allowable .[ S. 56 , 57(iii) ]

S. 54F : Capital gains-Investment in a residential house-Investment of net consideration in construction of house-Full value of consideration-Deeming fiction is not applicable-Entitled to exemption-Penalty deleted. [S. 48, 50C, 139(4), 271(1)(c)]

S. 54B : Capital gains-Land used for agricultural purposes-Finding that land not used for agricultural purposes in two preceding years No agricultural is shown by assessee in past years-Order of Assessing Officer is affirmed. [S. 45]