S. 68 : Cash credit-Impounding of documents found during search-Satisfactory explanation is furnished–Addition cannot be made. [S. 132, 153A]

S. 68 : Cash credits-Bank deposits-Funds withdrawn from bank four months ago for purchase of a property but due to non-materialised of property transaction, money was re-deposited in bank account, addition cannot be as cash credits.

S. 56 : Income from other sources–Shares issued at premium-DCF method-Commercial expediency has to be seen from point of view of businessman – Addition is held to be not justified. [R. 11UA(2)]

S. 56 : Income from other sources-Interest income–Bank deposits-Assessable as income from other sources and not as income from business [S. 28(i)]

S. 56 : Income from other sources-Share Premium-Share application money received from non-residents-Provisions of S.56(2)(viib) is not applicable – Additions cannot be made as cash credits. [S. 56(2)(viib), 68]

S. 56 : Income from other sources-Bonus shares-Provisions of S. 56(2)(vii)(c) would not apply to bonus shares. [S. 56(2)(vii)(c)]

S. 56 : Income from other sources – Capital or revenue-Amount received for relinquishing secretaryship of educational society cannot be treated as a capital receipt-Assessable as income from other sources. [S. 4, 45]

S. 54 : Capital gains-Profit on sale of property used for residence–Short term–Long term-Date of acquisition-Date of allotment letter and not conveyance deed-Entitle to exemption. [S.2(29A), 2(29B), 2(42A), 2(42B), 45, 54F]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Purchase of property-Applicable to seller and not purchaser-Unaccounted income invested in the purchase of property.[S. 56(2)(x), 132, 153C]

S. 50C : Capital gains-Full value of consideration-Stamp valuation–Lease hold rights–Stamp valuation is not applicable-Addition is held to be not valid. [S. 45]