S. 68 : Cash credits-Firm-Partner-Cash reflected in the ledger account of the firm-Deletion of addition is justified.

S. 68 : Cash credits-Share application money-Net worth of lending investor is sufficient to explain its creditworthiness-Addition is not sustainable.

S. 68 : Cash credits-Gift from Mother-In-Law-Identity of donor established-Addition is held to be not valid.

S. 68 : Cash credits-Unexplained investments-Limited scrutiny assessment-Telescoping-Peak-Cash deposits in bank greater than turnover-Scrutiny restricted to verify deposits-Jurisdiction not exceeded-Assessee failing to substantiate with documentary evidence-Cash deposit treated as unexplained-Bank entries showing deposits and withdrawals-Assessing Officer directed to give benefit of telescoping. [S. 69]

S. 68 : Cash credits-Cash deposit in bank account-Telescoping-Peak credit-Failure to give explanation-Reassessment was affirmed-On merit the Assessing Officer was directed to work out peak credit and restrict the addition to extent of peak credits. [S. 147, 148]

S. 68 : Cash credits-Evidence of persons not furnished-Identity and genuineness of transaction not proved-Additions sustained-Advance received from related parties-All evidences presented-Amount paid subsequently adjusted against sales made to these parties-Books of accounts accepted by Assessing Officer-Entries related to related parties accepted-Not-Co-borrowers-3 HUF having independent identity-Carrying on business out of their own independent source-Addition is not justified. [S. 69A]

S. 56 : Income from other sources-Share premium-Valuation of shares-Additional evidence-Exempted party-Matter remanded.[S. 56(2)(viib)]

S. 56 : Income from other sources-Purchase of property for consideration less than stamp duty value-Agreement executed on 31-3-2013-Addition is not valid. [S. 56(2)(vii)(b)(ii)]

S. 56 : Income from other sources-Purchase consideration and stamp valuation-Remand report-Deletion of addition is held to be justified. [S. 56(2) (vii)(b)]

S. 56 : Income from other sources-Interest on enhanced compensation for compulsory acquisition of land-Method of accounting-Taxable in year of receipt irrespective of system of accounts followed-Considering hardship 50 Per Cent. deduction allowed [S. 56(2)(viii), 57(iv), 145A]