Effect of amendment to section 145 - Merely because in the books ...

Case Laws Income Tax

November 7, 2014

Effect of amendment to section 145 - Merely because in the books of accounts, the interest income, which is not due and payable is shown in the account of the assessee, interst income cannot be taxed - HC

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Effect of amendment to section 145 - Merely because in the books ...

Case Laws Income Tax

November 7, 2014

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Addition on account of interest income - if assessee does not pay interest for a period of exceeding six months then interest income should not be recognized in its...

Rejection of books of accounts - rejection of books of account by invoking the provisions of section 145(3) - the AO has categorically noted in the assessment order...

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Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

Accrual of income - determination of income out of the receipt not disclosed in the books of account - when the receipts were out of the books of accounts, the payment...

Addition u/s 68 - Addition on the basis of income shown in Form No. 26AS - Mercantile system of accounting - There can be overflow of income of one preceding previous...

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Assessment u/s 153C - the assessee cannot be held to be having control over what the third person records in his regular books of accounts or in the parallel books of...

Treating the interest income as 'income from other sources' - CIT(A) in his order has observed that the assessee submitted profit and loss account and balance sheet only...

Penalty u/s 271B - the books of account of the Assessee have also been audited only on 30.09.2011, however it seems that somehow due to inadvertent or otherwise mistake...

Accrual of interest income - nonoperational sticky loans in respect of which mercantile actual of interest was shown in the suspense account and not the profit and loss...

Disallowing interest expenses u/s. 40(a)(ia) - tax deducted at source (TDS) was not deposited - No disallowance u/s. 40(a)(ia) is warranted as the payee has accounted...

Rejection of books of accounts - best judgement assessment - only objection raised by the AO is non-filing of the tax audit report - CIT- A deleting the addition -...

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