Home Highlights August 2012 Year 2012 This

You may also like:

1. Addition u/s 68 - Cash deposited in Bank - Assessee re-circulated those moneys by way of deposits, withdrawals and redeposits in the Bank A/c from time to time and the...

2. Addition u/s 69C - Low withdrawals for household expenses - AO did not point out any specific circumstances by which he assumed that assessee had made low withdrawals as...

3. The ITAT Mumbai addressed errors in capital gain computation. The Assessee's claim of ₹ 859,680 was accepted over the AO's ₹ 791,221. An application u/s 154...

4. Withdrawal of CIRP - The NCLAT emphasized that withdrawal of CIRP necessitates an application by the applicant and approval by 90% of the Committee of Creditors (CoC),...

5. Service tax demand on Goods Transport Agency (GTA) services rendered on reverse charge basis set aside as appellant did not collect service tax from service recipient....

6. Unexplained cash credit u/s 68 - submission of assessee that he used to collect commission for sending the cash through his account to the relatives of various persons...

7. Unexplained cash deposits in bank account u/s 69A - time gap between withdrawal and deposits - mere time gap between withdrawals and deposits cannot be a sole basis for...

8. Seeking withdrawal of CIRP - The tribunal noted the appellant's repeated failures in meeting commitments to the operational creditor. - It highlighted that the HDFC...

9. The ITAT Bangalore addressed unexplained cash deposits u/s 69A, focusing on the credibility of earlier withdrawals as a source for redeposits. The Tribunal examined fund...

10. CIT(A) allowed assessee to withdraw appeal against section 263 revision order, stating Tribunal quashed section 263 order and CIT(A) erred in not deciding appeal merits....

11. During the demonetization period, the assessee deposited Rs. 36.50 lacs in Specified Bank Notes (SBNs) in their bank account. The Assessing Officer (AO) made an addition...

12. Set off of loss brought forward losses - conditions of 51% shareholding - the assessee is not seeking carry forward of losses to be set off but the assessee is seeking...

13. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

14. Section 68 addition for cash deposits cannot be made where assessee filed return u/s 44AD and did not maintain books of accounts, as provisions of section 68 apply only...

15. Addition u/s 68 - large cash withdrawal by the assessee immediately before the search and seizure operation - during search and seizure operation, the cash amount was...