Addition u/s 68 - entry in the books of purchaser regarding cash ...

Case Laws Income Tax

June 8, 2019

Addition u/s 68 - entry in the books of purchaser regarding cash payment - there is nothing on record which corroborates the fact that any such unaccounted money flowed to the assessee in cash - no further investigation /inquiry - opportunity to cross-examine the persons has never been provided and the assessee was directed to prove the negative i.e. that he did not receive any unaccounted money - no addition

View Source

← Previous Next →

Addition u/s 68 - entry in the books of purchaser regarding cash ...

Case Laws Income Tax

June 8, 2019

You may also like:

Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

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)...

Addition u/s 68 - addition on the basis of receipts in the ledgerised cash sheet - the addition made by the AO has led to double addition and the same nature of...

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...

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 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

Unexplained cash credit addition u/s 68 during demonetization period - assessee unable to substantiate contentions regarding cash receipts from sales and debt recoveries...

Addition u/s 68 - unexplained cash towards cash deposits made during the demonetisation period - AO did not reject the books of accounts of the assessee and has not...

The ITAT Delhi ruled on an appeal regarding addition u/s 68 r.w.s. 115BBE for unexplained cash deposits during demonetization. The assessee explained that the deposits...

Addition for the lesser cash in hand found as compared with the books of account - applicability of section 68 or 69A - it was not a case where money is not recorded in...

Rejection of books of accounts u/s 145 - Addition u/ss 68/69A with 115BBE - cash deposited during demonetization as unexplained credit. The Assessing Officer did not...

The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

Difference in cash as per cash book and physical cash - The assessee made up the cash book later on to present that there was no difference. However, nothing of this...

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...

Quick Updates: