Revision u/s 263 - source of cash deposits in his bank account/s ...

Case Laws Income Tax

August 22, 2018

Revision u/s 263 - source of cash deposits in his bank account/s - The withdrawal of petty amounts, despite abundant cash-in-hand, only points out to the cash flow statement being not correct or complete, requiring further verification. There is no finding by the AO on this. - Revision upheld.

View Source

← Previous Next →

Revision u/s 263 - source of cash deposits in his bank account/s ...

Case Laws Income Tax

August 22, 2018

You may also like:

Revision u/s 263 - source of cash deposited in the Bank account - There is a direct nexus between the transaction of sale and the cash deposited in the bank account of...

Unexplained Cash withdrawn out of bank account - Gap between withdrawal and deposit of the cash - The heafty amount was withdrawn 70 days ago for utilising the same for...

Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

The assessee, a septuagenarian gynecologist with no business income during the year, made cash deposits totaling Rs. 10 lakh in her bank account during demonetization....

Addition u/s 68 - Cash deposited in Bank - Assessee re-circulated those moneys by way of deposits, withdrawals and redeposits in the Bank A/c from time to time and the...

The ITAT Bangalore addressed unexplained cash deposits u/s 69A, focusing on the credibility of earlier withdrawals as a source for redeposits. The Tribunal examined fund...

Revision u/s 263 - AO has completed the assessment without making enquires or verification which should have been made in respect of deposit of cash in the savings bank...

During the demonetization period, the assessee deposited Rs. 36.50 lacs in Specified Bank Notes (SBNs) in their bank account. The Assessing Officer (AO) made an addition...

Addition on account of cash deposit in the bank account - It is not explained why assessee was making deposits in his bank account on different dates of different amount...

Revision u/s 263 - Unexplained cash deposits - Merely because documents, noted by the AO to be produced by the creditor of source of cash deposit in response to summons...

Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

Cash deposits made during demonetization period from cash withdrawals and rental income received in cash were substantiated through cash flow statements and bank...

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...

Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to...

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...

Quick Updates: