Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

Reference u/s 142A - section 69 is not applicable since the ...


Investment Recorded in Books Makes Section 69 Inapplicable; Section 142A(1) Conditions Render Reference Invalid.

June 10, 2013

Case Laws     Income Tax     AT

Reference u/s 142A - section 69 is not applicable since the investment has been recorded in the books of account. - Therefore, as per condition prescribed u/s 142A(1) itself is an invalid - AT

View Source

 


 

You may also like:

  1. This notification amends the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. Key changes include introducing a fixed price...

  2. Addition u/s 69 - unless it is first established beyond doubt that there is an investment which is not recorded by the Assessee in its books, no occasion to explain...

  3. SEBI introduced a special call auction mechanism for price discovery of listed Investment Companies (ICs) and Investment Holding Companies (IHCs) due to infrequent...

  4. The key points from the legal text are: Section 153A assessment - Limitation period applies based on when seized materials were handed over to the Assessing Officer...

  5. Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

  6. Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

  7. This notification amends the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993. The key changes are: 1) In...

  8. Charitable institution invested funds in shares of joint venture companies, violating Section 13(1)(d). Exemption u/s 11 denied for income from such investment. However,...

  9. Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

  10. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  11. The key points covered in the summary are: Disallowance of deduction u/s 36(1)(vii) for debts written off, as the assessee did not create a provision in the books, which...

  12. Rejection of books of accounts u/s 145 - Addition u/ss 68/69A with 115BBE - cash deposited during demonetization as unexplained credit. The Assessing Officer did not...

  13. Addition u/s 69 - Unexplained investment or not - only when the investment is not recorded in the books of accounts or the explanation by the assessee regarding the...

  14. ITAT reversed additions made under sections 41(1) and 69 of Income Tax Act. Regarding s.41(1), outstanding trade payables to supplier since FY 2011-12 for defective...

  15. Unexplained investments - There is no positive and credible evidence brought on record by the revenue to establish the allegation of cash payment over and above the...

 

Quick Updates:Latest Updates