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 June 2015 Year 2015 This

Bogus purchases - Additions u/s 69C - assessee has not provided ...

Case Laws     Income Tax

June 16, 2015

Bogus purchases - Additions u/s 69C - assessee has not provided PAN No. of the parties - This cannot be the sole reason for disbelieving the explanation of the assessee, when the payments have been made by cheque duly reflected in the bank statement of the assessee - AT

View Source

 


 

You may also like:

  1. Addition u/s 69C - bogus purchases - Enquiries conducted by the AO prove the fact that purchases from the above parties are bogus which are not supported by necessary...

  2. Addition u/s 69C - bogus purchase bills - AO was having complete information about those parties - The ld. AO himself made any enquiry with those parties further with...

  3. Reopening of assessment u/s 147 - Bogus purchases - In view of failure on the part of the assessee in substantiating the purchases from those two parties, the Assessing...

  4. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  5. The assessee provided documentary evidence supporting the purchase and subsequent sale of shares leading to long-term capital gains (LTCG). The evidence included...

  6. The assessing officer (AO) made additions to the assessee's income based on alleged bogus purchases and unexplained investments. The key points are: Addition of Rs....

  7. Addition u/s 68 - In the given case, AO has not carried out any useful investigation but merely followed the previous pattern of investigation and completed the...

  8. Addition u/s 68 / 69C - unverified/non-existent /bogus sundry creditors - Assessee also cannot get scot free by not producing the sundry creditors and making purchases...

  9. Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

  10. Validity of reopening of assessment u/s 147 - Reason to believe - Addition u/s 69C on account of the capital introduced by the partner and unsecured loans - The Tribunal...

  11. Validity of reopening u/s.148 - Addition of bogus purchases - there was a categorical information wherein the assessee’s name was appearing along with details of the...

  12. The assessee had made purchases from M/s. HJM Fuels Pvt. Ltd., which the Department treated as bogus and added a profit element. The assessee pointed out discrepancies...

  13. Bogus purchases - information that was received by the A.O from the DGIT(Inv.) - now when the assessee had not only substantiated the authenticity of the purchases...

  14. Estimation of income - bogus purchases - The Tribunal considered the facts surrounding the alleged bogus purchases. Despite the inability of the assessee to establish...

  15. Addition of bogus purchases - The CIT (A) came to the conclusion that it is a case of purchases from gray market and thereafter, bills have been procured from hawala...

 

Quick Updates:Latest Updates