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TMI BlogConcealment of IncomeX X X X Extracts X X X X X X X X Extracts X X X X ..... When the assessee has furnished during assessment proceedings, the details of Share Application Money as well as Unsecured Loans received by the company, which could not be substaniated further in ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment ans as such have been added as income U/s 68 . Thereafter on such additions concealment penalty also have been levied. Is there any strong submission for this or case law to be submitted in d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efence before CIT appeals so that the penalty is deleted. - Reply By DEV KUMAR KOTHARI - The Reply = Why and in which circumstances it could nto be substantiated is important? A share applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t or a loan creditor might have made undisclosed investment and for that reason he may not come forward before the AO of company. For undisclosed investment by share hodler or debenture holder or loa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n creditor, the recipient of money cannot be assumed to ahve earned undisclsoed income warranting addition u/s 68. - Concealment of Income - Query Started By: - pradip shah Dated:- 9-6-2011 Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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