Addition u/s 68B - acceptance of additions by the assessee ...

Case Laws Income Tax

January 21, 2019

Addition u/s 68B - acceptance of additions by the assessee contrary to legal position - it cannot be treated as a sale transaction at all being without consideration, factum of merely accepting the addition made by AO u/s 69B, would not change the legal position.

View Source

← Previous Next →

Addition u/s 68B - acceptance of additions by the assessee ...

Case Laws Income Tax

January 21, 2019

You may also like:

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...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Accrual of income - Addition made to the income of the assessee received by the assessee from “JDS” and its associates, treated as own income of the assessee - Despite...

Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

Addition on account of sale of sale of jeera bag - CIT(A) deleted the additions by holding that the assessee only earned commission income in such sale - in the...

Addition on account of alleged on-money - Applicability of section 50C - The assessee has duly discharged the onus of proving that the sale consideration as actually...

Addition being legal and professional charges - The onus was on the assessee to establish that a Person, rendered legal and professional services in addition to...

The assessee received cash credits which were treated as unexplained income u/s 68 by the Assessing Officer (AO). However, the Commissioner of Income Tax (Appeals)...

Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

Assessment u/s 153A - addition u/s 68 - The assessee contended that the additions were not based on any incriminating material found during the search. The Tribunal held...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

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...

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...

Addition u/s 69 - unexplained investment - addition had been made by the AO by treating the amount deposited to the bank account owned by the brother of the assessee as...

Quick Updates: