S. 68 : Cash credits-Sale of shares-Penny stock-Long term capital gains-Report of investigation wing from Kolkata-Pine Animation Ltd-Purchase of shares, payment for purchase of shares through banking channel–Genuineness of transaction is proved-Cannot be assessed as cash credits-Entitle to exemption. [S. 38, 45]

S. 68 : Cash credits-Agricultural income-Lease agreement furnished-Deletion of addition is affirmed-Un secured loan-Discharged the burden-Deletion of addition is justified. [S. 10(1), 133(6)]

S. 68 : Cash credits-Income from undisclosed source-Income declared under IDS, 2016-Telescoping-Matter remanded to the Assessing Officer. [S. 69, 69A]

S. 56 : Income from other sources-Share premium-Valuation report by the Chartered Accountant-Considering net-worth of two step down subsidiaries-Acquired after valuation date-Addition is affirmed. [S. 56(2)(viib), R. 11UA]

S. 56 : Income from other sources-Shares at premium-Valuation of report by the Chartered Accountant-DCF method-Deletion of addition is affirmed. [S. 56(2) (viib), R. 11UA]

S. 54F : Capital gains-Investment in a residential house-Only part of consideration is utilised for purchase of property before due date of filing of return-Balance consideration is not deposited under Capital gains Account Scheme-Exemption is not available. [S. 54B,54F(4)139(1)]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Objection by the Assessee-Matter remanded to the Assessing Officer to refer the matter to District Valuation Officer-Reassessment is held to be valid. [S. 45, 147, 148]

S. 54F : Capital gains-Investment in a residential house-Date of agreement to be considered as date of sale-Amount paid for purchase of new property is more than the amount of sale consideration-Entitle to exemption. [S. 45]

S. 54F : Capital gains-Investment in a residential house-Deposit in specified account-Utilised before date specified under section 139(4)-Entitle to exemption-Refurnishing of new residential house-Habitable-Eligible for deduction [S. 45, 54F(4), 139(4)]

S. 48 : Capital gains-Mode of Computation-Registration expenses for sale of land-Brokerage-Allowable as deduction-Matter remanded to the Assessing Officer for verification. [S. 45]