Protective assessment - when the AO accepts that the cash ...

Case Laws Income Tax

November 13, 2015

Protective assessment - when the AO accepts that the cash payment has been made by M/s Om Metal then protective addition in the hands of assessee is not sustainable and the same was correctly deleted by the first appellate authority i.e. CIT(A) - AT

View Source

← Previous Next →

Protective assessment - when the AO accepts that the cash ...

Case Laws Income Tax

November 13, 2015

You may also like:

Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

Protective assessment - no addition can be made in the hands of the assessee - the protective addition made in the hands of the assessee for these three assessment...

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...

The concept of protective assessment also becomes important in a situation where the addition on substantive basis is deleted and in such an event, protective assessment...

Validity of reopening the assessment u/s 147 - Additions u/s 68 and u/s 69A - Cash deposits in assessee’s bank account - The ITAT observed that, the AO was satisfied...

Protective addition made by Assessing Officer was not sustainable as substantive addition did not survive in concluded assessment proceedings of related party. CIT(A)...

Addition u/s 40A - sum paid in cash in respect of purchase of the two immoveable properties - Sale deed has been executed on 18.8.2013 and the payment has been made on...

The Assessing Officer (AO) made additions u/ss 69C and 68 for undisclosed credit card expenditures in foreign currencies based on material found during a survey. The...

Addition for undisclosed cash payments - Merely because the payments made by cheque appearing in the ledger copy and actually made by the assessee tallied, it cannot...

Additions against Cash deposits made during demonetization period in specified bank notes - assessee has been consistently holding huge cash balance which meets the...

Addition u/s 69B - On-money payment in cash - Unless something is brought on record or AO conducts inquiry that the said person in whose possession it was found has...

The assessing officer made protective additions u/ss 69, 69C, and 68 for amounts already considered by the firm where the assessee was a partner. However, the settlement...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

Quick Updates: