Home Highlights November 2013 Year 2013 This

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1. Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

2. Taxability of proceed of share premium u/s 56(1) - utilization of share premium account for not specified purposes - violation of section 78 of the Companies Act, 1956 -...

3. 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...

4. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

5. If the assessee has consistently treated the shares investment account as her investment for long-term purposes and has not shifted the stock in investment account to...

6. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

7. Addition u/s 68 - Unexplained share transactions - Consideration received other than cash - There are no details on facts as to what was the investment which was made by...

8. Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

9. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

10. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

11. Addition u/s 68 - addition on account of share capital - the investor companies have withdrawn money from companies where funds were invested earlier and they invested...

12. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

13. Addition of share premium received on issue of equity shares u/s.56(2)(viib) - shares were issued to its sister’s concern only and the transactions are between two...

14. Addition u/s 56(2)(viia) - buy back of its own shares - The fact remains that the factum of extinguishment of the purchased shares by reducing the paid up capital of the...

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...