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-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.
S. 68 : Cash credits-Gift from Mother-In-Law-Identity of donor established-Addition is held to be not valid.