S. 68 : Cash credits-Remittance from its Singapore based holding company-Source of the source not required to be proved-Addition is not justified.

S. 68 : Cash credits-Agricultural income-Agricultural income is not disputed-Cash deposits cannot be assessed as cash credits. [S.10(1)]

S. 68: Cash credits-Credit worthiness of parties proved-Addition is deleted.

S. 68 : Cash credits-Share application money-Documents and confirmation letter filed, received through banking channels-Genuineness of transaction proved-Addition is not justified.

S. 68 : Cash credits-Unsecured loans-Identity, creditworthiness of lender and genuineness of transaction proved beyond doubt-Addition is deleted.

S. 54F : Capital gains-Investment in a residential house-Capital asset-Receipt on relinquishment of assessee’s share in firm-Liable to capital gains-Reinvestment on residential flat allowable deduction. [S. 2(14), 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation Long-term capital gains-Sale of immovable property-Difference in registered sale deed price and stamp duty valuation price of property sold-Rectify mistake new gift deed has been made on 15-2-2016, wherein mentioned that land transferred without any consideration-Gift deed, a self-serving document and could not be accepted-Addition is justified. [S. 45, 47(iii),56(2)(vii)]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Order set aside and matter restored to Assessing Officer for adjudication De novo after seeking valuation report from Valuation Officer.[S. 45,48, 50C(2)]

S. 45 : Capital gains-Sale of land-Cost of improvement-Encroachments on land-Compensation for removal of encumbrance-Entitled to deduction.[S. 48]

S. 43B : Deductions on actual payment-Bonus-Pre-existing liability paid in previous year-Not allowed in earlier years-Allowable in the year of payment. [S. 139, 145]