Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Addition u/s 68 - There is no proper explanation in this regard ...


Section 68 Addition Confirmed: Lack of Explanation for Cash Deposit Before Transaction Leads to Compliance Issue.

July 13, 2016

Case Laws     Income Tax     AT

Addition u/s 68 - There is no proper explanation in this regard as to why the cash was deposited in the account of payee just one or two days before the transaction. - Addition confirmed. - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - evidences about the receipt of the cash and repayment of the cash despite those persons having proper bank account - whole explanation of the assessee...

  2. Unexplained Cash deposited into Bank Accounts - income from unexplained source u/s 69B - Onus to prove - Onus cast on the Appellant has not been discharged.addition u/s...

  3. ITAT upheld addition under section 68 regarding unexplained cash deposits of Rs. 78,00,000/- as assessee failed to provide satisfactory explanation or supporting...

  4. ITAT partially allowed the appeal concerning unexplained cash credits under Section 68. The Tribunal deleted additions of 1.57 crore cash deposit in Andhra Bank,...

  5. The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating...

  6. 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...

  7. Addition u/s 68 r.w. section 115BBE - unexplained cash deposits in the bank account - The tribunal finds that the AO did not provide a satisfactory explanation for...

  8. Section 68 addition for cash deposits cannot be made where assessee filed return u/s 44AD and did not maintain books of accounts, as provisions of section 68 apply only...

  9. Addition u/s 68 - Unexplained cash credits - The assessee has not submitted any explanation/ evidences to satisfy the mandate of Section 68 - Even, statement of fact has...

  10. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  11. 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...

  12. ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed...

  13. The ITAT Delhi ruled on an appeal regarding addition u/s 68 r.w.s. 115BBE for unexplained cash deposits during demonetization. The assessee explained that the deposits...

  14. The assessee received cash credits which were treated as unexplained income u/s 68 by the Assessing Officer (AO). However, the Commissioner of Income Tax (Appeals)...

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

 

Quick Updates:Latest Updates