S. 68 : Cash credits-demonetization-Large cash deposited-Sale bills-Each sale bill less than Rs. 2 Lakhs-Books of account is not rejected-Addition cannot be made merely because bills did not contain name of customers.[S. 115BBE, 145(3)]

S. 68 : Cash credits- Penny stocks-Report of Kolkata Investigation Directorate-Shares held for morethan 15-25 years-Not justified in doubting the transactions-Order of CIT(A) deleting the addition is affirmed-Issue not raised before the CIT(A) cannot be raised under rule 27 of the ITATRules,1963 .[S. 10(38), 45,ITATR. 27]

S. 194I : Deduction at source – Rent – Alternative accommodation–Transit rent -Developer or Builder – Development agreement – Hardship Allowance / Rehabilitation Allowance / Displacement Allowance,- Not revenue receipt – Not liable to tax – Not liable to deduct tax at source .[ S. 4 , Art.226 ]

S. 148A: Reassessment – Conducting inquiry, providing opportunity before issue of notice – Whether TOLA is applicable for Assessment Year 2015-2016 and whether any notice issued under Section 148 of the Act after 31st March 2021 will travel back to the original date? – Held No- Whether the notice dated 27th August 2022 issued under Section 148 of the Act is barred by limitation as per the first proviso to Section 149 of the Act? – Held yes – Whether the impugned notice dated 27th August 2022 is invalid and bad in law as the same has been issued without a DIN? -Held Yes- Whether the impugned notice dated 27th August 2022 is invalid and bad in law being issued by the JAO as the same was not in accordance with Section 151A of the Act? – Held Yes – Whether the issues raised in the impugned order show an alleged escapement of income represented in the form of an asset or expenditure in respect of transaction in relation to an event or an entry in the books of account as required in Section 149(1)(b) of the Act? -Held No- Whether respondent no.1 has proposed to reopen on the basis of change of opinion and if it is permissible? (a) . on the basis of change of opinion – Held yes (b) if it is permissible? – Held No – When the claim of deduction under Section 80JJAA of the Act has been consistently allowed in favour of petitioner by the Assessing Officers/ Appellate Authorities in the earlier years, can the Assessing Officer have a belief that there is escapement of income? Held No – Whether the approval granted by the Sanctioning Authority was valid? – Held Yes – Writ petition is allowed and notice and consequential orders are quashed . [ S. 80JJAA , 147, 148, 149, 149(1(b) 151A, Art . 226 ]

S. 237 : Refunds -Interest on refunds—Public money – Technical issues at the Centralized Processing Center (CPC) – The High Court reprimanded the Department, stating that the interest is payable in law until the date of refund, and the Department failed to realise that it is the public money used to pay interest, which is a burden on the exchequer- A copy of the Order was asked to be sent to the Office of Honourable Prime minster , The Hon’ble Finance Minister GOI, The Hon’ble Law Minister, the Central Board of Direct Taxes and to the Attorney General for India for information and necessary action.[ S. 244A , Art. 226 ]

S. 68 : Cash credits-Income from undisclosed source-Cash deposited in the bank account-Claim that cash deposited was out of cash withdrawals-No document to substantiate claim-Link not established-Addition is justified.[S.69]

S. 68 : Cash credits-Burden of proof-Share Application money and share premium-Availability of sufficient funds-Statements of directors recorded, confirmed decision of the board to invest in assessee-Burden of proof of assessee to prove identity and creditworthiness discharged-A.O not making any inquiry or finding any discrepancy in evidence-Proviso requiring assessee to prove source of credits not applicable-Additions are not justified.

S. 68 : Cash credits-On money received for sale of units in housing projects-Improbable to make profits upto 50%-Properties sold not high end-On money element added at 50% of booked price very high-Additions to be restricted to 15%.-Order to be not treated as precedent.[S. 153C]

S. 68 : Cash credits-Burden of proof-Receipts of sums of deposits, receipts of sums refunded furnished by the assessee-Details not untrue-Burden discharged-Additions is not justified. [S.292C]

S. 68: Cash credits-Assessee filed confirmation of parties and repayment-Matter Remanded for fresh adjudication.