Unexplained cash credit - AO has wrongly treated the share ...

Tax Misclassification: Share Application Money Wrongly Treated as Income, Directors' Cash Entries Overlooked.

March 8, 2017

Case Laws Income Tax AT

Unexplained cash credit - AO has wrongly treated the share application money as income of the assessee. If any amount is to be added it should be added in the hand of Directors because only they can take the entry by giving the cash from their pockets - AT

View Source

← Previous Next →

Unexplained cash credit - AO has wrongly treated the share ...

Tax Misclassification: Share Application Money Wrongly Treated as Income, Directors' Cash Entries Overlooked.

March 8, 2017

Case Laws Income Tax AT

You may also like:

The Appellate Tribunal dismissed the Section 7 application filed by the Appellant, ruling that the share application money deposited by the Appellant with the Corporate...

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

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...

Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

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

Addition u/s 68 - non independent application of mind - accommodation entries - share application money - Mere non production of Director of said share holder company...

Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in...

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...

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...

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...

Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

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...

Proper authority / Jurisdiction to launch Prosecution Proceedings - It is the contention of the Revenue that the Deputy Director of Income Tax is a senior officer and...

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 -...

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...

Quick Updates: