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Income Tax - Highlights / Catch Notes

Home Highlights January 2016 Year 2016 This

Addition made u/s 41(1) - genuineness of sundry creditors - ...

Case Laws     Income Tax

January 10, 2016

Addition made u/s 41(1) - genuineness of sundry creditors - Once, the assessee is unable to discharge the primary onus cast upon him, then it is very difficult to reverse the finding of facts recorded by the AO as well as CIT(A) - AT

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  8. Addition u/s 41(1) - sundry creditors pending for more than three years - AO neither made any enquiry or brought any material on record to demonstrate that the liability...

  9. Addition u/s 41(1) - outstanding balances of sundry creditors and other liabilities - Unconfirmed bill, advance from customers and sundry creditors which are static...

  10. Addition u/s 41(1) - proof of seizure of Sundry Creditors - except making the averments to the effect that these Sundry Creditors were paid, no documentary proof thereof...

  11. Addition u/s 41(1) - benefit by way of remission or cessation of liability - In the instant case, the first mentioned person is the assessee, but not the creditor. In...

  12. Addition @ 0.55% of closing balances of creditors and debtors as bogus - If the AO is not satisfied about the books of the assessee,he can reject the same and make an...

  13. 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...

  14. Addition u/s. 41(1) - Difference between the amount payable as per books of accounts and amount as per the confirmation received from the creditor - The High Court...

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