Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

Undisclosed incomes - Presumption u/s 292C - assessee having ...


Undisclosed Incomes Case: Section 292C Presumption Applied; Assessee's Diary Disown Claim Invalid Due to Inadequate Explanation.

March 10, 2015

Case Laws     Income Tax     AT

Undisclosed incomes - Presumption u/s 292C - assessee having miserably failed to point out with reference to each of the entries in the seized diary as to how it does not give rise to income, the assessee cannot take a valid plea that he disowned the diary - AT

View Source

 


 

You may also like:

  1. Additions based on entries in the Diary - Presumption u/s 292C - without substantiating the content of the noting in the diary, the value adopted by way of decoding by...

  2. Undisclosed turnover - Estimation of income - The presumptions u/s. 292C are rebuttable presumptions and they do not lead to conclusive evidence. The assessee has right...

  3. The Income Tax Appellate Tribunal held that the assessee's plea towards non-applicability of Section 271AAB of the Income Tax Act was devoid of rationale. The Tribunal...

  4. Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

  5. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  6. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

  7. Onus lay upon Assessee to displace said presumption. As we have seen that Assessee gave explanation disowning documents stating that same related to some others but...

  8. Bogus sale proceeds as undisclosed income - addition u/s 68 - all these transactions were through banking channels only and in that process assessee has suffered loss. -...

  9. Ex-parte assessment u/s 144 treated unexplained cash deposits as undisclosed and unexplained income, added to the assessee's total income u/s 68 read with Section 69A....

  10. Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

  11. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

  12. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  13. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

  14. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

  15. Penalty u/s 271(1)(c) - the fact that the assessee and his son have declared the undisclosed income in their individual return of income and have paid taxes but capital...

 

Quick Updates:Latest Updates