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 May 2017 Year 2017 This

Unexplained cash credit u/s 68 - AO has merely proceeded and ...

Case Laws     Income Tax

May 27, 2017

Unexplained cash credit u/s 68 - AO has merely proceeded and relied on the information received from the DGIT(Inv), Mumbai that the assessee is one of the beneficiary of the accommodation entries without bringing any material against the assessee on record - No additions - AT

View Source

 


 

You may also like:

  1. Bogus share transactions were alleged, and the Assessing Officer (AO) denied the assessee's claim for exemption u/s 10(38) by treating the sale consideration of shares...

  2. Proceedings u/s 153A - addition of Unexplained cash credit U/s 68 - if there is no incriminating material to reassess the income of the assessee then the AO legally...

  3. Reopening of assessment u/s 147 - addition u/s 68 as unexplained cash credit - information received from DRI - AO is not empowered in law to carry out any enquiry, if no...

  4. The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...

  5. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

  6. Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

  7. Unexplained cash credit u/s 68 - When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real...

  8. Assessee engaged in business of commission agent (Aadatia) for agricultural products. AO made addition u/s 68 treating entire cash deposits in bank account as...

  9. Addition u/s 68 - The burden is very heavy on the assessee to satisfy cumulatively the ingredients of Section 68 as to identity and establish the credit worthiness of...

  10. The case pertains to the validity of reopening of assessment and addition made u/s 68 as unexplained cash credit. The key points are: The assessee had duly recorded the...

  11. Unsecured loans treated as unexplained cash credits u/s 68. Interest paid on such unexplained loans also added to income. Assessee's contention of repayment of loans...

  12. Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

  13. Unexplained cash credit u/s. 68 r.w.s. 115BBE - Co-ordinate Benches of the Tribunal have held that any sum found credited in bank passbook could not be treated as an...

  14. Addition u/s 68 - Cash loan and interest income earned on such cash loan unexplained - It is not understandable as how the cash loan are unexplained, when the AO has not...

  15. Unexplained cash credits u/s 68 and the applicability of Section 115BBE for taxing such additions. The key points are: The Assessing Officer (AO) issued notices u/s...

 

Quick Updates:Latest Updates