Home Highlights August 2017 Year 2017 This

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1. Addition u/s 68 - unsecured loans - addition only on the basis of the information received from the Investigation Wing ignoring - the investing company has sufficient...

2. Addition u/s 68 - In this case, the AO has made additions only on the basis of statement recorded from third party ignoring various evidences filed by the assessee to...

3. The Appellate Tribunal held that the Assessing Officer erred in making additions u/s 68 for unsecured loans and disallowing interest component. The assessee demonstrated...

4. Assessee challenged addition on account of unproved sundry creditors u/s 41(1), contending evidence of liability cessation was provided. AO held assessee failed to prove...

5. Addition u/s. 68 being unsecured loans - onus to prove - The ITAT held that, primary onus can be discharged by establishing/furnishing the proof of the identity of the...

6. Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had also paid interest on the unsecured loan after deducting TDS @20% which reveals that during subsequent...

7. Unexplained Unsecured Loans - Additions made by the ld.AO in the case of assessee are against the principles laid down u/s.68 - no addition could have been made by the...

8. Addition of unsecured loan u/s 68 - interest free unsecured loan received from a close friend in Dubai to fund ongoing project with a condition that amount will be...

9. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

10. Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

11. 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...

12. Addition u/s 68 - Unexplained cash credit - Addition in dispute is not sustainable in the eyes of law, because the assessee has discharged his onus u/s. 68 of the Act...

13. Addition u/s 68 - unsecured cash credit - when assessee had sufficiently discharged the ‘onus’ u/s 68 that was cast upon him for proving the authenticity of the loan...

14. Addition u/s 68 - unexplained cash credit - capital contribution in cash by the partners - While deleting the additions, the Tribunal held that, if the Ld. AO was not...

15. Addition u/s 68 - accommodation entries receipts - onus to prove - The tribunal held that, when an assessee provides all necessary documents and no adverse findings are...