Home Highlights July 2016 Year 2016 This

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1. Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

2. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

3. Addition u/s 68 - unexplained cash deposited in bank accounts - Bank account / statement as books - an addition made in respect of a cash deposit in the bank account of...

4. Addition u/s. 69/68 - Cash deposit in joint bank account - We are unable to comprehend as to how an addition can be made in the hands of assessee towards cash deposits...

5. The assessee's contentions were upheld by the Tribunal regarding various additions made by the Assessing Officer. The Tribunal ruled that the RTGS transfer from the...

6. Assessee unable to substantiate the money deposited in his bank accounts - Addition u/s 68 confirmed - The benefit of "peak credit principle" not extended Note:- On...

7. Addition u/s 68 - Cash deposited in Bank - Assessee re-circulated those moneys by way of deposits, withdrawals and redeposits in the Bank A/c from time to time and the...

8. Addition u/s 68 - treatment of bank passbook as a 'books of account' - the bank account or bank passbook of an assessee cannot be held as the latters 'books of account',...

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

10. Addition u/s 68 - unexplained cash credit - AO may invoke the provisions of section 147 against the person who where the owners of the bank accounts where the sum are...

11. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

12. Addition u/s 68 v/s 69 - bank statement or bank passbook cannot be considered to be the books of accounts maintained by the assessee. - As per section 68 of the Act,...

13. Addition u/s 68 v/s 69 - unexplained deposit in the bank account - sum was not credited in the books of accounts, but the amount was found credited in the bank account...

14. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

15. 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...