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. 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.

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]