Home Highlights August 2013 Year 2013 This

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1. Difference between amount shown in agreement to sale and sale deed - Addition u/s 69 - Even if it is assumed to be so, unless it is proved that the agreement was acted...

2. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

3. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

4. The CIT(A) partly allowed and restricted the addition on account of commission expenses at 0.25% as compared to 2% adopted by the Assessing Officer. The coordinate bench...

5. Addition on account of notional increase in employee’s cost - surplus in planned assets - As the employee cost was reduced in the Profit & Loss Account, the said amount...

6. Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

7. Additions as notional interest pertaining to one of the partners - Debit balance in the account of partner while the assessee is paying interest on bank loan - bringing...

8. TP Adjustment - addition on account of notional interest on export receivables - When the assessee is adopting the uniform policy for none charging interest on export...

9. Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

10. Accrual of income - Taxability of notional interest income credited by the assessee in his profit and loss account as per the requirement of Indian Accounting Standards...

11. Recovery proceedings - Attachment orders - rights over the property - seeking transfer of property in favor of purchaser - In this case admittedly the transfer was on...

12. Addition u/s 69A - unexplained money - sum received on sale of land co-owned - sale through conveyance deed - year of assessment - it was factually incorrect on the part...

13. Unexplained income - Difference in amount between sale agreement and sale deed - It is not necessary that the price stated in the agreement will be the price shown in...

14. Addition on account of Repair and Maintenance of Plant and Machinery on estimate basis - sale of scrap - The assessee brought on record a chart of sale made of scrap in...

15. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...