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Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Addition u/s 68 - ITAT is correct in holding that old loans ...

Case Laws     Income Tax

June 22, 2016

Addition u/s 68 - ITAT is correct in holding that old loans being converted into share application money and since there was no fresh infusion of credit, section 68 of the Income Tax Act, 1961 is not applicable - HC

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  1. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  2. Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

  3. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

  4. Addition u/s 68 or 56 - Undisclosed income of unsecured loan - share application money receipt - the share application money was received in the financial year 2011-12 -...

  5. Addition of bogus share application money u/s 68 - explanation to source of the source - with effect from assessment year 2013-14 section 68 of the Act has been amended...

  6. Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

  7. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

  8. Share application money - additions u/s 68 - Other than the share application forms, no other agreement between the respondent and third companies had been placed on...

  9. Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

  10. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

  11. Initiation of CIRP - NCLT admitted the application - Financial Creditors - Share Application Money in the event of non-allotment of shares - Loan/Debt or not - Share...

  12. Addition u/s 68 - Revenue failed to provide that parties were in accommodation entries in form of loan and share application money after charging certain commission as...

  13. Treatment of Share Application money as loans & Advances(269SS) - Penalty under 271D - Share application monies received by a company, pending allotment of shares, do...

  14. Confirmation of additions on account of share application money - Unsecured loan – there have proper sources for the amounts invested in the company –the AO is directed...

  15. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

 

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