S. 68 : Cash credits-Information from investigation wing-Amount repaid in subsequent year-Failure to produce the directors of lender companies-Need not prove source of source-Order of CIT(A) deleting the addition is affirmed. [S. 131(d), 133(6)]
S. 68 : Cash credits-Information from investigation wing-Amount repaid in subsequent year-Failure to produce the directors of lender companies-Need not prove source of source-Order of CIT(A) deleting the addition is affirmed. [S. 131(d), 133(6)]
S. 68 : Cash credits-Long-term capital gains-Loss on sale of shares-Information from investigation wing-Not involved in price manipulation-Denial of exemption is not justified-Reassessment is affirmed.[S. 147, 148]
S. 68 : Cash credits-Unsecured loans-Failure to discharge the burden-Addition is affirmed. [S.131, 133(6)]
S. 68 : Cash credits-Capital gains-Loss on sale of shares-Price rigging-Reports from Investigation Wing and Securities and Exchange Board of India-No independent enquiry-No incriminating material-Disallowance of loss is deleted-No exempt income-No disallowance can be made. [S. 10(38), 14A,, 45, 133(6), R.8D]
S. 68 : Cash credits-Cash deposits-Bank-Cash sales-Demonetisation-Business of machinery parts and bearings-No discrepancy in stock register or goods and services tax returns-Addition is deleted.[S.69A, 133A]
S. 68: Cash credits-Share capital and share premium-Shares premium of 490 on a share with face value of Rs 10-Subscribers are not traceable-Addition is justified.[S.68, 131]
S. 56 : Income from other sources-Interest income-Lending to members-Only the expenditure attributable to earning of interest income is allowable-Issue which was not examined in first round of litigation is cannot be raised in second round of litigation. [S. 57.80P(2)(a)(i)]
S. 55 : Capital gains-Cost of improvement-Cost of acquisition-Sale of property-Non-Resident-Fair market value as on 1-4-2001-Valuation on the basis of approved Government Valuer-Assessing Officer is directed to adopt fair market value of property on the basis of as determined by Registered valuer. [S. 48, 144C(7)(a), 144C(7)(b)]
S. 45: Capital gains-Long-term capital gains-Purchase and sale of shares-Penny stock-Matter remanded to the Assessing Officer. [S. 10(38)]
S. 45 : Capital gains-Compulsory acquisition of land by National Highways Authority of India-Compensation-Entitle to exemption. [S. 4] Right to fair compensation and transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013,S.96 S. Circular No. 36 Of 2016, Dated 25-10-2016 (2016) 388 ITR 48 (St)