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 August 2013 Year 2013 This

Addition on account of bogus sale - accommodation entries - ...

Case Laws     Income Tax

August 22, 2013

Addition on account of bogus sale - accommodation entries - Assessee has failed to produce any credible evidence to establish that cash sales were effected of brass scrap. The surrounding circumstances also show that there was no man-power available with the assessee to deal with the huge quantity of brass scrap. - additions confirmed - AT

View Source

 


 

You may also like:

  1. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

  2. The assessee provided documentary evidence supporting the purchase and subsequent sale of shares leading to long-term capital gains (LTCG). The evidence included...

  3. The assessee received share application money and premium from a company that admitted to providing accommodation entries. The AO rejected the assessee's claim, citing...

  4. Addition u/s 68 as accommodation entries - long term capital gain on sale of shares as sham/bogus transaction - Mere suspicion cannot be a ground for treating the...

  5. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

  6. The ITAT Mumbai held that addition as unexplained income based on accommodation entries lacked proof of transaction nature, creditworthiness, and genuineness. AO's...

  7. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  8. Unexplained cash credit u/s 68 r/w section 115BBE - Bogus purchase and sale - The assessee has recorded the entries of sales and purchase in its books of account and has...

  9. Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

  10. Reassessment proceedings after information received from Director of Investigation regarding bogus/accommodation entries - HC

  11. Reopening of assessment - accommodation entries - nothing concrete was brought on record to substantiate that the assessee received any entry or made payment for...

  12. Accommodation entries - Estimation of income - the addition cannot be made on the basis of any hypothesis presumption albeit it has to be based on evidences or material...

  13. Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

  14. Addition u/s 68 - unexplained deposits in bank account - The assessing officer has made the addition simply because the assessee failed to produce the lender. Merely...

  15. Addition u/s 68 - unexplained cash credit - AO may invoke the provisions of section 147 against the person who where the owners of the bank accounts where the sum are...

 

Quick Updates:Latest Updates