Addition u/s 69C - CIT(A) deleted the addition - in order to ...

Tax Appeal: Section 69C Addition Deleted Due to Lack of Clear Evidence of Unexplained Expenditure by Taxpayer.

August 7, 2015

Case Laws Income Tax AT

Addition u/s 69C - CIT(A) deleted the addition - in order to invoke the provisions of sec. 69C, should give a categorical finding that the assessee has incurred any expenditure - AT

View Source

← Previous Next →

Addition u/s 69C - CIT(A) deleted the addition - in order to ...

Tax Appeal: Section 69C Addition Deleted Due to Lack of Clear Evidence of Unexplained Expenditure by Taxpayer.

August 7, 2015

Case Laws Income Tax AT

You may also like:

The Appellate Tribunal considered the legality of additions based on a diary seized from a third party. The Tribunal held that the presumption u/s 132(4A) of the Act...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

ITAT dismissed Revenue's appeal concerning unexplained money under s.69A, rejecting additions based on difference between agreement to sale and final sale deed values....

ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed...

The assessee denied the entries representing unaccounted cash expenditure, stating they were merely MIS reports for discussion purposes, containing approximate project...

Transfer of property deemed as short-term capital gain due to holding period less than 36 months, disallowing deduction u/s 54F. Additions for difference in commission...

Unexplained expenditure u/s 69C - The High Court found that the Assessing Officer's reliance on cumulative figures provided by CBIC, without specifying the individual...

The Appellate Tribunal held that the addition u/s 56(2)(vii) or 28(iv) was unjustified, as the purchase was made with consideration, cheques were given to sellers with...

ITAT modified multiple additions in a tax appeal concerning bogus purchases and unexplained money. For contested purchases of Rs. 13,80,63,994, ITAT directed application...

The ITAT held that once the source of cash is taxed, it cannot be further taxed as unexplained cash expenditure in the hands of the assessee company. The assessee had...

The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

The ITAT Mumbai held that addition as unexplained income based on accommodation entries lacked proof of transaction nature, creditworthiness, and genuineness. AO's...

The assessee's investment in film financing business was examined based on seized documents and statements recorded during the search operation. The explanation that the...

Quick Updates: