S. 69 : Unexplained investments-Recorded in the books of account-Deletion of addition is held to be valid.

S. 68 : Cash credits-Shares of Raj Darbar Group brought back the shares at much lower rate at which the shares were allotted-Addition was made not on the basis of seized materials or statements-Deletion is held to be justified. [S. 132, 153C]

S. 68 : Cash credits-Unsecured loans-Established genuineness and credit worthiness-Deletion of addition was justified.

S. 68 : Cash credits-Reconciliation of statement-Supported by evidence-Order of Tribunal was affirmed. [S. 260A]

S. 48 : Capital gains-Sale consideration-Fair market value deemed to be full value of consideration in certain shares-Transfer of a plot of land-Joint Development agreement-Not ascertainable-Guidance value of land would be appropriate mode to determine full value of consideration-Provision of section 50D came in to force with effect from 1-4-2013 is not applicable for the year under consideration. [S. 45, 50D]

S. 45 : Capital gains-Transfer-Immovable property-Unregistered agreement-Joint development agreement-Payment from developer-Not assessable as capital gains [S. 2(47)(v), Transfer of Property Act, 1882, S. 53A]

S. 45 : Capital gains Full value of consideration-Deductions -Consideration on sale shares including sum held in Escrow Account offered to tax-Receiving reduced sum from Escrow Account after Completion of assessment-Whole amount credited in book not taxable as capital gains-Only actual amount received taxable-Entitled to refund of excess tax paid-Recomputation can be less than the returned income-Proviso to section 240 is not applicable-The assessee can be asked to pay only such amount of tax which is legally due under the Act and noting more-Entitle to refund of excess tax paid [S. 48, 264, Art, 226]

S. 43B : Deductions on actual payment-Service tax-Deduction available on actual payment.

S. 43B : Deductions on actual payment-Statutory corporation-Obligation of agent to account for and pay amounts collected by him on behalf of principal is purely fiduciary-Disallowance is not valid. [Electricity Supply Act, 1948, S. 5]

S. 43B : Deductions on actual payment-Employees’ and employers contribution-Paid before due date of filing of return-Allowable as deduction. [S. 139(1)]