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

Receipt of amount without consideration - income from other ...

Case Laws     Income Tax

February 22, 2018

Receipt of amount without consideration - income from other sources u/s 56(2)(vi) - Amount received from employer’s various employee’s welfare trusts - when the income of all the aforesaid 12 discretionary trusts have been charged to tax, the same income cannot be taxed twice when fell into the hands of the assessee - AT

View Source

 


 

You may also like:

  1. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

  2. What is taxable u/s.56(2)(vi, is receipt of money without consideration - money received by the assessee from various trusts could not have been taxed u/s.56(2)(vi) of...

  3. Receipt of Gift from HUF - income from other sources - whether HUF comes under the term ‘group of relatives’ defined u/s 56(2)? - Held Yes - Receipt of Gift from HUF -...

  4. Receipt of advance - Additions u/s 56(2)(vi) - A receipt cannot be taxed merely on conjecture or surmises. - The AO needs to bring on record evidence which proves that...

  5. Waiver of loan amount - addition u/s 56(2)(vi) - amount received by the individual or HUF without consideration - It is not just a case where the bank has simply waived...

  6. Addition of income u/s 56(2)(x)(b)(B) - under valuation of stamp duty value on purchase consideration of the property u/s 50C - The assessee asserts that only a partial...

  7. Deemed income u/s 56(2)(vi) - before a plea based on section 56(2)(vi) can be taken, a foundation has to be laid that the transaction was without any consideration. - HC

  8. Deemed income u/s 56(2)(vi) - interest free unsecured loan - amount was received from HUF and was recorded in the balance sheet as liability of unsecured loan - No addition - AT

  9. 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...

  10. Addition u/s 56(2)(viia) - purchase of shares of closely held company at 3.5 times of Book value - the provision of section 56(2)(viia) would be attracted in the case of...

  11. Section 69A applies to unexplained money, but the assessee provided valid documentation proving the remittance was earned outside India as part of employment in UAE and...

  12. Addition u/s 56 - allotment of shares cannot be equated with receipt of shares - receipt of share there should be shares in existence and a person holding such share...

  13. Addition on account of the receipts on dissolution of trusts - receipt in the capacity of beneficiaries - the addition cannot be upheld on the applicability of section...

  14. Nature of income - Award received as settlement through an arbitration award - Amount received for withdrawal of cases against the erstwhile partners and partnership...

  15. Unexplained deposit of cash u/s 69A - as submitted that the source of the said sum is gift from relative which is not taxable u/s 56 - Considering the fact that...

 

Quick Updates:Latest Updates