Home Highlights August 2012 Year 2012 This

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

2. Unexplained cash deposits during demonetization period - Assessee could not also explain how the amount withdrawn in the year 2013 was made available for depositing in...

3. Deduction claimed u/s. 54 - delay in depositing unutilized amount in capital gains account deposit scheme - Assessee has explained reasons for depositing unutilized...

4. Validity of reopening of assessment - Information about huge cash deposit in the bank account - AO did not have any information about what kind of business assessee is...

5. A Non-Resident Indian residing in Saudi Arabia made fixed deposits from remittances received in Dubai and maturity proceeds of existing term deposits, interest on NRE...

6. Deemed dividend u/s 2(22)(e) - A.O. made addition on account of debit balance of account - the account is clearly in the nature of a running current account and merely...

7. Time Limitation - Refund of unutilized PLA balance - undisputedly the PLA balance for which refund is sought for is out of advance deposit made by the appellant in PLA...

8. Addition u/s 43B - non deposit of GST before the due date of filing of return of income under section 139(1) - the contention of the assessee that it has not claimed any...

9. Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

10. Unexplained money u/s 69A - cash deposit in the Saving Bank Account - Since the assessee has not disclosed this bank account in the return of income, therefore, deposit...

11. Refund claim for unspent advance deposit lying balance in PLA - unspent balance is nothing but unutilised advance deposit made by the appellant - In case of claiming...

12. Unexplained deposits - Amount found deposited in the joint account of assessee as well as his wife in the savings bank account - Even if it is presumed that the deposits...

13. Addition u/s 68 - availability of source and application of fund - Cash in hand - AO ought to have made cash flow statement with opening cash balance, deposit and...

14. The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

15. Revision u/s 263 by CIT - Balances of partner’s capital account - where the balances are carried forward from the earlier assessment year and there are no movements in...