Assessment u/s 153A - addition u/s 68 - since the surrender was ...

Section 153A Assessment: Addition u/s 68 Contested Due to Retracted Surrender Lacking Supporting Evidence.

January 15, 2019

Case Laws Income Tax AT

Assessment u/s 153A - addition u/s 68 - since the surrender was made under pressure which was immediately retracted, and except the aforesaid, no adverse material has been found from the premises of the appellant, as such, such statement cannot be made the basis for the assessment.

View Source

← Previous Next →

Assessment u/s 153A - addition u/s 68 - since the surrender was ...

Section 153A Assessment: Addition u/s 68 Contested Due to Retracted Surrender Lacking Supporting Evidence.

January 15, 2019

Case Laws Income Tax AT

You may also like:

The ITAT held that the assessment years 2009-10, 2010-11 and 2011-12 were beyond the 10-year limitation period u/s 153C read with Explanation-1 to section 153A. Hence,...

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

Assessment u/s 153A - addition u/s 68 - in search assessments, the addition cannot be made without the incriminating material in completed assessments. - AT

Assessment u/s 153A - Addition of unsecured loans as undisclosed in u/s. 68 - the assessment proceedings were not pending at the time of search. Hence assessment for...

The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating...

ITAT ruled against additions made under section 153A for unsecured loans (s.68) and interest expense disallowance (s.37(1)) in a concluded assessment year. Following SC...

Substitution of new section for section 153B- Time limit for completion of assessment under section 153A. - The limitation for completion of assessment under section...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

The ITAT addressed multiple issues related to the assessee's eligibility for deduction u/s 80IA and various additions made by the AO. The AO's assessment u/s 153A...

Assessment u/s 153A - Addition made u/s 68 on account of unexplained credits and u/s 69C on account of unexplained expenses - assessment of the respondents had attained...

Assessment u/s 153A - unexplained cash credit u/s 68 - addition based on statement - Such confessions have been retracted and then the addition could not withstand the...

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...

Addition u/s 69C OR 68 - Addition of share application money - Wrong mention of section - opening balance was carried forward - it is outside the ambit of section 68 - No addition.

Addition of unexplained cash credit u/s 68 - bank account can’t be loosely called as books of account u/s 68 - ITAT can’t covert the addition from section 68 to section...

Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval...

Quick Updates: