S. 69C: Unexplained expenditure-bogus purchases-Addition unsustainable where purchases, movement of goods and consumption are fully evidenced. [S. 145]
S. 69C: Unexplained expenditure-bogus purchases-Addition unsustainable where purchases, movement of goods and consumption are fully evidenced. [S. 145]
S. 69A: Unexplained money-Search & seizure-Addition based solely on employee’s diary and retracted statements-Not sustainable. (S. 132, 132(4A) 153A)
S. 69A: Unexplained money-Seized Papers-Where seized rough sheets substantially tally with the regular books of account, only unexplained differences can be sustained and not the entire addition. [S.132, 145(3)]
S. 69A: Unexplained money-Cash deposits during demonetisation-Addition was deleted where source stood explained from regular books [S. 115BBE]
S. 69A: Unexplained money-Survey-Addition based on dumb documents seized from third parties deleted.[S. 133A]
S. 69: Unexplained investments-Undisclosed Income-Loose papers-Addition based on dumb documents-Addition was deleted.[S.69C, 132, 153A]
S. 69: Unexplained investments-Non-Resident Indian-Investment in property out of foreign salary remitted through NRE account cannot be assessed under section 69. [S. 5(2)]
S. 68: Cash credits-Cash deposit in bank-Demonetisation-Cash sales-Books of account not rejected-Figures of sales have been depicted in VAT return-Addition is deleted-Section 115BBE is applicable to transactions on or after 1st April, 2017.[S. 115BBE]
S. 68: Cash credits-Gift from sister-Creditworthiness and genuineness proved-Addition deleted.
S.68: Cash credits-Bogus long-term capital gains-Genuine share transactions through stock exchange, demat account and banking channels cannot be treated as bogus in the absence of incriminating evidence. [S. 45 69C]