Addition on cash received - addition cannot be sustained in the ...

Case Laws Income Tax

May 9, 2016

Addition on cash received - addition cannot be sustained in the hands of assessee only because certain documents stated to have been filed for the purpose of marketing the cinema and not the actual expenditure cannot be considered for making an addition in the hands of assessee - AT

View Source

← Previous Next →

Addition on cash received - addition cannot be sustained in the ...

Case Laws Income Tax

May 9, 2016

You may also like:

Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

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 u/s 69 - cash deposited in the bank out of opening cash in hand - AO noticed that the assessee had raised loans and also withdrawn cash numerous times...

Addition on account of cash deposit during demonetization period - the assessee glumly failed to justify the genuineness of the cash on hand viz a viz its use for...

Addition u/s 69A - Source of Cash deposit - Assessee contended that same is received in advance against the sale of property - Levy of penalty u/s 271D - The ITAT held...

Addition on account of payment of undisclosed commission - addition cannot be made in the hands of the assessee for the reason that, firstly, the name of the assessee is...

Addition being 40% of cash balance shown in the balance sheet as income of the assessee - A.O without any basis, simply says that the cash in hand is excessive and...

Addition of cash in hand - cash deposit in demonetization period - income u/s 44AD - there was no justification to consider the sales of assessee to be bogus or to make...

Addition u/s. 69 based on information received from Australian Tax authorities - There is absolutely no other material in the hand of the A.O. of proving the addition in...

Unexplained Money addition under Section 69A - Where the basis for making the addition in the hands of the buyer has been held as inadmissible and unsustainable, the...

Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

During the demonetization period, the assessee deposited Rs. 36.50 lacs in Specified Bank Notes (SBNs) in their bank account. The Assessing Officer (AO) made an addition...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Quick Updates: