Home Highlights June 2013 Year 2013 This

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1. Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

2. Assessment u/s 153A - profit from the sale of the plot - additions in the hands of broker / commission agent - unexplained and undisclosed income of the appellant - In...

3. The case pertains to the applicability of Section 50C of the Income Tax Act in determining the full value of consideration for computing capital gains in the hands of...

4. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

5. Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

6. The case pertains to the issue of addition in the hands of a Hindu Undivided Family (HUF) versus an individual for advance money paid for the purchase of land. The key...

7. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

8. Addition of capitation fees/donation made on protective basis in the hands of the assessee - Since the additions has been made in the hands of another person, no...

9. Protective assessment - no addition can be made in the hands of the assessee - the protective addition made in the hands of the assessee for these three assessment...

10. Capital Gain - Addition made by enhancing the sale consideration of the property sold - value u/s 50C - neither the AO nor the Ld. CIT(A) have brought on record any...

11. Addition of cash in hand - cash deposit in demonetization period - income u/s 44AD - there was no justification to consider the sales of assessee to be bogus or to make...

12. Addition u/s 50C - Whatever compensation received would be for relinquishment of right to obtain a sale deed, which is also a “capital asset” within the meaning of...

13. The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions...

14. Unexplained Money addition under Section 69A - Where the basis for making the addition in the hands of the buyer has been held as inadmissible and unsustainable, the...

15. Reopening of assessment u/s 147 - AO recorded his satisfaction about escapement of income for sale of investments - no addition made on this issue - addition made for...