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 February 2017 Year 2017 This

Addition of unexplained expenditure u/s 69C - It is not ...

Case Laws     Income Tax

February 1, 2017

Addition of unexplained expenditure u/s 69C - It is not understood as to how there was such a huge export turnover in one year. That too in the first year of business and then there was substantial fall in the next year and subsequently there was no business of export in any of the years. This shows that this is not the regular business of the assessee. - HC

View Source

 


 

You may also like:

  1. Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

  2. Profit estimation on unaccounted turnover: AO estimated 8% profit based on seized material, which was reduced to 5% by CIT(A). ITAT held that in case of profit...

  3. Addition u/s.69C - unexplained expenditure - Admittedly, in the first round of proceedings, there was no addition made u/s. 69C by the revenue. AO could not have made...

  4. Export turnover brought into India does not qualify as 75% of total turnover for claiming exemption u/s 10A. Expenditure incurred in foreign exchange must be excluded...

  5. Unexplained expenditures and unaccounted cash payment - Onus to proof - once the revenue has treated the entire amount of expenditure as unexplained expense under...

  6. Addition u/s 68 - cash deposit in bank account - assessee claimed deposit relates to substantial cash withdrawn and out of opening cash in hand - in absence of any...

  7. Unexplained purchase u/s 69C - Section 69C clearly refers to the “source of the expenditure” and not to the expenditure itself - AT

  8. Unexplained expenditure u/s 69C - once estimation of GP has been made on the unaccounted sales it covers unexplained expenditure also to this extent - AT

  9. Addition u/s 69C – Unexplained expenditure - only because parties has given a different accounting treatment in its books of account, it cannot be said that the assessee...

  10. Additions made u/s 69C - unexplained expenditure – Whether the Assessing Officer had acted on conjectures and surmises – Held no, additions confirmed - HC

  11. Unexplained expenditure u/s 69C - expenditure of stamp duty paid for registration of property sold - additions confirmed - HC

  12. Exclusion of insurance charges from the export turnover for computing 10AA deduction - The assessee has not charged its customers separately in respect of the insurance...

  13. Addition u/s 69C - excess stock - 69B OR 69C - mentioning of wrong section would not upset the Additions made by the AO as all these provisions have been enacted with a...

  14. The Assessing Officer (AO) made additions u/ss 69C and 68 for undisclosed credit card expenditures in foreign currencies based on material found during a survey. The...

  15. Denial of refund claim - Rule 5 of CCR, 2004 – input services – export of services – export turnover - branches turnover neither included in export turnover nor in the...

 

Quick Updates:Latest Updates