S. 68 : Cash credits-Long term capital gains-Accommodation entries-Transactions were proven bogus by revenue-Addition as cash credits justified. [S. 45, 10(38)]

S. 68 : Cash credits-Compensation-Land acquisition-Land held as stock in trade-Not undisclosed income. [S. 143(3)]

S. 57 : Income from other sources-Deductions-Deduction of payment of interest made to earn interest income-Allowable as deduction. [S. 56, 57(iii)]

S. 56 : Income from other sources-DCF method-Substantiated value of shares issued by fair market value which was more than issue price-Addition cannot be made. [S. 56(2)(viib), 68]

S. 56 : Income from other sources-No fresh money received during the year-No addition can be made. [S. 56(1)]

S. 56 : Income from other sources-Income from house property-Leasing of workstations-Where the letting was inseparable-Income shall be treated under head income from other sources and not as income from house property. [S. 22, 24(a)]

S. 56 : Income from other sources-Valuation report-Appointment of independent valuer-DCF method for valuation to be followed-Matter remanded. [S. 56(2)(viii)(b)]

S. 56 : Income from other sources-Builder-Holding of amount for future settlement-Not assessable as income from other sources. [S. 4, 5, 28 (1)]

S. 54B : Capital gains-Land used for agricultural purposes-Exemption not allowed as the assessee is not owner of property sold-No computation of capital gain in assessee’s hands-Matter remanded to verify the extinguishment of rights in the property and to assessee the capital gains. [S. 45]

S. 54 : Capital gains-Profit on sale of property used for residence-Assessee sold two house properties and purchased one property with the proceeds of both-Entitle to exemption. [S. 45]