Addition u/s 69C - writing off the goodwill has not resulted in ...

Case Laws Income Tax

May 9, 2016

Addition u/s 69C - writing off the goodwill has not resulted in the siphoning of funds of the company - Further addition made u/s 69C is also not correct as section 69C can only be invoked only when the source of any investment was not explained - AT

View Source

← Previous Next →

Addition u/s 69C - writing off the goodwill has not resulted in ...

Case Laws Income Tax

May 9, 2016

You may also like:

A public listed company (RHFL) was involved in siphoning off funds by structuring them as 'loans' to creditworthy conduit borrowers, resulting in disproportionate...

Bad debts - Writing off of Loan to farmers - The treatment of the write-offs of such loans would then have to be viewed probably as bad debts, though this may not be...

Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

Disallowance of stock written off - Books of accounts of the assessee were not rejected by AO in the instant case. It is pertinent to note that no benefit has been...

Deemed income / addition u/s 41(1) - Recovery of bad debts written off - the bad debts written off did not exceed the credit balance in provision for bad and doubtful...

Grant of anticipatory bail - money laundering - siphoning of funds - Apparently, the money that is alleged to be siphoned off is public money and the offence is grave in...

Seeking grant of Regular bail - misuse of cheque discounting facilities - diversion and siphon-off the borrowed funds - section 447 of the Companies Act - Despite having...

Addition u/s 68 - addition on account of share capital - the investor companies have withdrawn money from companies where funds were invested earlier and they invested...

Company struck off from Register of Companies u/s 248(5) of Companies Act, 2013. Section 250 interpreted using golden rule of construction, allowing struck-off company...

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...

Cheating - syphoning of money - It is surprising that none of the banks while sanctioning or disbursing the funds have ever checked the background of the...

Disallowance of advances written off - the parent company has not reimbursed the amount only on account of change of policy of the parent company. - the assessee has...

Addition of unexplained credit u/s 68 - assessee could not produce the party for examination before AO or CIT(A) - balance sheet of the lender clearly shows that the...

Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

Assessee wrote off provision for bad and doubtful debts by debiting profit and loss account and reducing corresponding amount from loans and advances to debtors in...

Quick Updates: