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Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Addition u/s 69 - time gap between the cash withdrawal from bank ...

Case Laws     Income Tax

June 9, 2014

Addition u/s 69 - time gap between the cash withdrawal from bank and the deposit made, and in the process, the possible nexus between the withdrawal made earlier and the redeposit made by the assessee needs to be verified - AT

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  1. Addition u/s 68 - Cash deposited in Bank - Assessee re-circulated those moneys by way of deposits, withdrawals and redeposits in the Bank A/c from time to time and the...

  2. Unexplained cash deposit - In many cases, small amounts were withdrawn two or three times on a single day by different persons. Further, the deposits in Bank were made...

  3. Unexplained cash deposits in bank account u/s 69A - time gap between withdrawal and deposits - mere time gap between withdrawals and deposits cannot be a sole basis for...

  4. Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

  5. Addition u/s.69 towards cash deposits in the bank account - determining the peak credit - where the peak is added, the investment made by the assessee has to be added...

  6. Addition made u/s. 69A - unexplained cash deposits - The Tribunal found merit in the assessee's argument that the cash on hand at the beginning of the financial year...

  7. Additions against Cash deposits made during demonetization period in specified bank notes - assessee has been consistently holding huge cash balance which meets the...

  8. Addition u/s 69 - cash deposited in the bank out of opening cash in hand - AO noticed that the assessee had raised loans and also withdrawn cash numerous times...

  9. Unexplained investment u/s 69 - cash deposit - the alleged transactions of cash deposits and corresponding entries of cheque issued were not in the nature of any...

  10. Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

  11. During the demonetization period, the assessee deposited Rs. 36.50 lacs in Specified Bank Notes (SBNs) in their bank account. The Assessing Officer (AO) made an addition...

  12. The assessee, a septuagenarian gynecologist with no business income during the year, made cash deposits totaling Rs. 10 lakh in her bank account during demonetization....

  13. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

  14. Cash deposited post demonetization period - AO making the addition of 30% of the cash deposited in the bank during post demonetization period - addition made by the AO...

  15. The ITAT Bangalore addressed unexplained cash deposits u/s 69A, focusing on the credibility of earlier withdrawals as a source for redeposits. The Tribunal examined fund...

 

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