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 2018 Year 2018 This

Validity of reopening of assessment - addition u/s 69C - bogus ...

Case Laws     Income Tax

February 15, 2018

Validity of reopening of assessment - addition u/s 69C - bogus purchases - M/s. JPK Trading Pvt. Ltd had never sold any goods and were only issuing bogus sales invoices and charged commission. Thus AO was justified in reopening the case of the appellant for the year under consideration u/s 147 of the Act - AT

View Source

 


 

You may also like:

  1. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  2. Estimation of income - bogus purchases - The Tribunal addressed various issues, including the validity of the reopening of assessment, the genuineness of purchases,...

  3. Estimation of income - Bogus purchases - Second reopening assessment proceedings - The Tribunal affirms the decision of the CIT-A to delete the addition made under...

  4. Addition u/s 69C - bogus purchases - Enquiries conducted by the AO prove the fact that purchases from the above parties are bogus which are not supported by necessary...

  5. The assessee had made purchases from M/s. HJM Fuels Pvt. Ltd., which the Department treated as bogus and added a profit element. The assessee pointed out discrepancies...

  6. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

  7. 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...

  8. The reopening of assessment proceedings u/s 147 was valid as the Assessing Officer (AO) had received information about the assessee booking tax loss through trade in...

  9. Validity of reopening of assessment u/s 147 - Reason to believe - Addition u/s 69C on account of the capital introduced by the partner and unsecured loans - The Tribunal...

  10. Addition of bogus purchases - The CIT (A) came to the conclusion that it is a case of purchases from gray market and thereafter, bills have been procured from hawala...

  11. The Income Tax Appellate Tribunal (ITAT) adjudicated on various additions made by the Assessing Officer (AO) as unexplained/bogus credits or trading liabilities. The...

  12. Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

  13. Addition being unverified sundry debtors - Additions have been confirmed on account of bogus purchases - Any addition out of the sales made out of the aforesaid...

  14. Reopening of assessment u/s 147 - Bogus purchases - In view of failure on the part of the assessee in substantiating the purchases from those two parties, the Assessing...

  15. Addition of bogus purchases - reopening u/s 147 - if the source of purchases are from the books and through account payee cheque, then how such purchases can be treated...

 

Quick Updates:Latest Updates