Addition of unexplained liabilities - Cash credit - additions ...

High Court Clarifies Interpretation of Section 68: Unexplained Liabilities in Cash Credit Entries Under Income Tax Act.

September 8, 2014

Case Laws Income Tax HC

Addition of unexplained liabilities - Cash credit - additions u/s 68 - The expression “any sum is found credited in the books of the assessee“ means all entries on the credit side as well as on the debit side in the books of account - HC

View Source

← Previous Next →

Addition of unexplained liabilities - Cash credit - additions ...

High Court Clarifies Interpretation of Section 68: Unexplained Liabilities in Cash Credit Entries Under Income Tax Act.

September 8, 2014

Case Laws Income Tax HC

You may also like:

Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

Unexplained cash credit - addition u/s 68 - entry operator - taxing the total turnover of the entries as an unexplained cash credit in the hands of the an entry provider...

Unexplained cash credit u/s 68 - When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real...

Unsecured loans treated as unexplained cash credits u/s 68. Interest paid on such unexplained loans also added to income. Assessee's contention of repayment of loans...

Addition on the basis of Peak Credit - unexplained credit entries in the bank account - basis of Peak Credit can be adopted to remove the cascading effect of the...

The ITAT Delhi addressed an addition u/s 41(1) converted from u/s 68, focusing on whether there was actual receipt of money or just journal entries for account...

In the case before ITAT Delhi, the issue revolved around the computation of commission income on credit entries and unexplained cash credit u/s 68. The assessee failed...

Unexplained cash credits u/s 68 - accommodation entries - The cash amounts deposited by the customers i.e., the beneficiaries had been accounted for in the assessment...

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...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Unexplained cash credit u/s 68 - there was no actual transaction of cash credit in the books of accounts which were based on fake entries having no substance. - Question...

Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

Addition u/s 68 - Unexplained cash credit - It is well settled principle that the repayment of cash credit would not prove the genuineness of cash credit. It is the...

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

Deposits by the assessee in bank account during demonetization period were not unexplained. Section 69A is inapplicable as there were proper entries for cash sales, cash...

Quick Updates: