S. 69A : Unexplained money-Cash found during search-Sale of scrap-Cash was reflected in the balance sheet-Addition cannot be made. [S. 153A]

S. 69A : Unexplained money-Capital gains-Penny stock-Accommodation entry-Purchase and sale of sales through SEBI Registered Broker-Merely on basis of Investigation report that shares were penny stock-Addition not sustainable. [S. 10(38), 45]

S. 69 : Unexplained investments-Search and seizure-Finance broker-Interest income-No cash loan-Deletion of addition is justified. [S. 132]

S. 68 : Cash credits-Loans-Lender companies replied to the Assessing Officer in response to notice received by them and also filed the documents called including balance sheet-Inspectors report stating that lender companies are not traceable-Statement of parties taken in the course of survey was neither given nor given an opportunity of cross examination-No adverse inference can be drawn against the asseesee-Deletion of addition was held to be justified. [S.133(6), 133A]

S. 68 : Cash credits-Share application money-Genuineness not established-Addition was justified-Un secured loan-Onus discharged-Addition was not justified. [S. 131]

S. 68 : Cash credits-Convertible warrants-Receipts of money over three years-Genuineness of and creditworthiness of transaction was established-Deletion of addition was justified.

S. 68 : Cash credits-Unsecured loans-Failure to follow principle of natural jus Failure to provide an opportunity of cross examination-Addition is held to be not justified.

S. 54 : Capital gains-Profit on sale of property used for residence-Purchase of property within one year before transfer-Actual possession handed over by within one year after transfer of second Property-Entitled to deduction. [S. 45]

S. 50C : Capital gains-Full value of consideration-Stamp valuation-Departmental valuation officer-Objection of the assessee was not considered-Transfer of development rights-Matter remanded. [S. 45]

S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchase of land-Not debited to profit and loss account-Disallowance cannot be made.