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Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Addition on the basis of AIR information - When the assessee has ...

Case Laws     Income Tax

July 25, 2014

Addition on the basis of AIR information - When the assessee has contradicted the AIR information, it is a duty of the authorities below to prove that the payment has been made to the assessee - AT

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  8. The assessee's contentions were upheld by the Tribunal regarding various additions made by the Assessing Officer. The Tribunal ruled that the RTGS transfer from the...

  9. Reopening of assessment u/s 147 - As reopening of the assessment has been made on the basis of AIR information which is not based on correct facts and the AO has not...

  10. Addition on the basis of Annual Information Return (AIR) - When the assessee claims that he has not entered into any transaction with the concerned parties, the least...

  11. Addition being the difference in receipts as per the Profit and Loss Account and as per AS-26 - addition was made solely based on the AIR information without bringing...

  12. Additions based on mismatch in annual information return - If the assessee can reconcile such difference and even otherwise satisfy the learned assessing officer, that...

  13. Penalty u/s 271FA – Protection u/s 273B - Proper information not furnished by assessee – delay in furnishing the requisite AIR information by the appellant - bonafide...

  14. Addition u/s 69A - AIR information revealed cash deposits in assessee's savings bank account - assessee applied Section 44AD of the Act on business income. Held:...

  15. Goods classified as 'Zero Air' cleared by appellant from December 2002 to June 2007 were classifiable under Chapter Heading 2804 attracting 16% duty, not under Chapter...

 

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