S. 69C : Unexplained expenditure-Business expenditure-Bogus purchases-Addition based solely on third-party statements without cross-examination-Not sustainable-Onus discharged by assessee-Burden shifts to Revenue-Addition deleted-Sales accepted-Entire purchases cannot be disallowed-No further addition warranted. [S. 37(1), 142(1), 147, 148]

S. 69C : Unexplained expenditure-Search assessment-Unexplained cash expenditure-Assessee failed to establish expenditure incurred on behalf of production house-Addition confirmed.[S.69A, 132, 132(4)]

69C : Unexplained expenditure-Computer printouts seized from accountant-No corroborative evidence-Addition deleted-Protective addition-Cash found with accountant-Accountant owning cash-Addition in assessee’s hands not permissible.

S. 69A: Unexplained money-Unaccounted production-Estimation based on variation in electricity consumption-No evidence of unaccounted purchases or sales-Addition deleted.[S. 132]

S. 69A: Unexplained money-Search and seizure-Parallel invoicing-No corroborative evidence connecting seized material with assessee-Addition deleted-Sales-Under-invoicing-Extrapolation of entire turnover unjustified-Addition restricted. [S. 132]

S. 69A: Unexplained money-Cash deposits during demonetisation-Cash balance contrary to Schedule AL-Addition upheld.

S. 56 : Income from other sources-Hoarding charges-Not income from house property. [S. 22]

S. 45 : Capital gains-Fair market value as on 1-4-2001-Collector/Circle rate not examined-Matter remanded.[S.48, 55]

S. 45 : Capital gains-Short-term capital gains-Business income-Sale of immovable property-Assessee held to be owner-Alternative finding of adventure in the nature of trade upheld. [S. 28(i), 45, S. 44AD, R. 46A]

S. 45 : Capital gains-Short-term capital loss-Penny stock-Accommodation entries-No independent enquiry-Loss allowable.[S.2(42B), 131, 133A, 143(3)]