S. 68 : Cash credits-Share premium-Income from other sources-Confirmation was filed-Valuation report was filed-Discounted Cash Flow Method (DCF)-Additional evidence filed by the Revenue-Share holders have replied to notices sent under section 133(6) of the Act-Receipt cannot be taxes as Revenue receipts-additional evidence filed by the Revenue was not admitted-Genuineness and creditworthiness was proved-Addition was deleted. [S. 28(iv), 56(1), 133(6), 263, ITAT R. R. 29]

S. 68 : Cash credits-Purchase and sale of shares of JMD Ltd-Addition was deleted-Long term capital gains-Reassessment was affirmed. [S. 10(38), 45,69C, 147, 148]

S. 68 : Cash credits-Share application money-Withdrawal from capital account of partner-Onus discharged-Addition was deleted.

S. 68 : Cash credits-Unsecured loan-Voluntarily disclosing Rs. 22 crores before Settlement Commission-Amount laundered and re-introduced in garb of unsecured loan through bank account of creditor-Interest expenditure not allowable. [S. 37(1), 131, 132(4)]

S. 68 : Cash credits-Long-term capital gains-Penny stocks–Price of little known shares increasing 56 times in 28 months-Denial of exemption is affirmed.[S. 10(38) 45, 131]

S. 68 : Cash credits-Agricultural income-Failure to produce evidence-Agricultural income was estimated of Rs. 5 lakhs and balance addition of Rs. 48 lakhs was confirmed. [S. 10(1)]

S. 68 : Cash credits-Investors declaring meagre income or not filing returns-Investments made through banking channels not sufficient-Additions was confirmed.

S. 68 : Cash credits-Unexplained investment-Partner-Reconciliation was filed-Deletion of addition is justified.

S. 68 : Cash credits-Firm-Partner-Cash reflected in the ledger account of the firm-Deletion of addition is justified.

S. 68 : Cash credits-Share application money-Net worth of lending investor is sufficient to explain its creditworthiness-Addition is not sustainable.