Unexplained cash credit - trade advance for purchase of goods - ...

Case Laws Income Tax

April 13, 2019

Unexplained cash credit - trade advance for purchase of goods - copies of invoice raised by the assessee show that the assessee has squared up by adjusting the sales of the goods for the amount which it has received as advance - no addition u/s. 68 is warranted

View Source

← Previous Next →

Unexplained cash credit - trade advance for purchase of goods - ...

Case Laws Income Tax

April 13, 2019

You may also like:

Cenvat credit - duty paying documents - debit note cum bills - duplicate copies of invoice - credit allowed - AT

Addition u/s 68 - Unexplained cash advances received from various customers - trade advances given by the creditors/customers were found to be adjusted against the sale...

Unexplained cash credits u/s 68 and the applicability of Section 115BBE for taxing such additions. The key points are: The Assessing Officer (AO) issued notices u/s...

Unexplained cash credit - Profit from commodity trading on NMCE - Though no infirmity either emerges as regards the assumption of jurisdiction by the A.O for reopening...

CENVAT Credit - duty paying documents - appellant has taken the credit on the basis of extra copy invoices, capital goods and invoices were on the name of other unit -...

Unexplained cash credit u/s 68 - When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real...

Bogus purchase - The supplier parties to whom cheque payments were made for purchases booked in books of account, returns the corresponding cash back to the assessee...

Cenvat credit on purchase of raw material - sponge iron being the raw material/inputs purchased from registered dealer - goods received on endorsed invoices - goods were...

Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

CENVAT Credit - Trading activity - Merely because the appellant trading unit had mentioned the service tax registration number of the service unit while issuing...

CENVAT Credit - duty paying document - photo copy - specified copy of bill of entry and the invoices were misplaced after the receipt of the goods in the factory -...

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...

Addition of trade creditors u/s 68 - unexplained cash credits - AO cannot blow hot and cold at the same time for the reason he has made twin additions out of the trading...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Addition u/s 68 - it is contended before AO that advances (cash credit) were made against the purchase of goods - AO and the Appellate Authority have the power of Civil...

Quick Updates: