Home Highlights June 2014 Year 2014 This

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1. Addition u/s 69C OR 68 - Addition of share application money - Wrong mention of section - opening balance was carried forward - it is outside the ambit of section 68 - No addition.

2. Assessee challenged addition on account of unproved sundry creditors u/s 41(1), contending evidence of liability cessation was provided. AO held assessee failed to prove...

3. Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

4. Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

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

7. Unexplained cash credit addition u/s 68 during demonetization period - assessee unable to substantiate contentions regarding cash receipts from sales and debt recoveries...

8. Revision u/s 263 - Failure of AO levy tax u/s 115BE for the additions made u/s 68 - AO having made addition u/s 68 of the Act, taxing it at the rate prescribed u/s...

9. Bogus shareholders – when full details known to department, no additions be made u/s 68 - HC

10. Deletion made u/s 68 of the Act – Unexplained sundry creditors – opening balances which could be verified from the books of accounts of the assessee cannot be added in...

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

12. Addition u/s 68/41 - old sundry creditors - opening balance of advances for booking and another sundry creditor - there is no ground of appeal raised by the revenue for...

13. Addition u/s 68 on unexplained capital - erroneous filing of ITR and is a result of mistake committed by the assessee partnership firm - the capital introduced by the...

14. Addition u/s 68 - mistake of introduction of authorized capital - tax practitioner had made the above inadvertent mistake while filing the return of income which is not...

15. Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown...