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 September 2017 Year 2017 This

Addition u/s 68 - unexplained cash credit - Many of the bank ...


Court Upholds Section 68 Additions for Unexplained Cash Credits; Discrepancies in Bank Transactions Noted Across Multiple Locations.

September 16, 2017

Case Laws     Income Tax     HC

Addition u/s 68 - unexplained cash credit - Many of the bank slips were signed by one person - The demand drafts were issued by Wadhwan city branch of the bank whereas the applicants were living at different places such as Kherwa, Patdi, Nana Ankleshwar, etc. - additions confirmed - HC

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. Addition u/s 68 - unexplained cash credit - Onus to prove - The High court noted that the assessee had provided sufficient evidence, including bank statements, cash-flow...

  4. Addition u/s 68 - maturity proceeds of FDRs, alleging unexplained cash credits - In this regard, assessee submits a copy of the bank certificates issued by the Dena Bank...

  5. Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

  6. Addition u/s. 69A - unexplained cash deposits in the bank account - The Tribunal found the explanation provided by the assessee regarding the sale consideration for real...

  7. 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...

  8. Unexplained cash credit u/s 68 - unexplained cash deposit in the bank account during post-demonetization period - Even otherwise the ld. AO should have appreciated that...

  9. 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...

  10. Addition on the basis of Peak Credit - unexplained credit entries in the bank account - basis of Peak Credit can be adopted to remove the cascading effect of the...

  11. 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...

  12. Validity of the order of ITAT deleting the various additions made by the AO - The appellant, Revenue, contested various additions made by the Assessing Officer,...

  13. 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...

  14. Cash deposits in bank account unexplained - assessee failed to substantiate source for deficit amount - reasons recorded for reopening assessment valid - addition partly...

  15. 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...

 

Quick Updates:Latest Updates