S. 68 : Cash credits-Share application money-Amount credited in Bank account and credit shown in books of account in earlier year-Shares allotted in following year-Addition cannot be made in year in which shares were allotted.

S. 68 : Cash credits-Unsecured loan-Repaid within short time-TDS deducted-Addition was deleted.

S. 68 : Cash credits-Share capital-Share premium-Parties Responding to enquiries made under Section 133(6)-Share capital and share premium is capital receipt-Cannot be taxed as income.

S. 68 : Cash credits-Gross profit-Turmeric trading-Purchase and sale-Addition is not justified.

S. 68 : Cash credits-Purchase of shares by paying cash-Penny stock-Accommodation entries-Shares held in brokers pool account for 17 months-Shares transferred to DEMAT account few days before the sale-Sale is held to be not genuine-Addition is confirmed-Expenditure is not allowable as deduction. [S. 10(38), 37(1), 45]

S. 68 : Cash credits-Share premium-Monies received in earlier years-Opening balance addition cannot be made-Share premium from founder promoter-Discharged burden of proving identity, genuineness and creditworthiness-Celebrity endorser-Isuue of shres at premium-Addition is not justified-Foreign investors-Foreign inward remittance certificates, in support of foreign investment received in accordance with RBI regulations, revenue ought not to have rejected primary evidences furnished-Matter remanded.

S. 68: Cash credits-Complex transaction-Matter remanded for fresh consideration.

S. 68 : Cash credits-Unsecured loans-Non banking finance company-Genuineness and creditworthiness of lender proved-Deletion of addition is held to be justified.

S. 68 : Cash credits-Money deposited in assessee’s bank account-Explanation was furnished-Addition was not justified.

S. 68 : Cash credits-Sale of Pharmaceutical products-Demonetisation-Cash deposits-Books of account not rejected-Sales not doubted-Addition is held to be not valid.