Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Undisclosed professional receipt u/s 69A - Year of assessment - ...

Case Laws     Income Tax

August 3, 2019

Undisclosed professional receipt u/s 69A - Year of assessment - Cash basis of accounting - Assessee has paid advance tax on the amount in question in AY 2020-21 and undertaken to declare the amount for taxation, Revenue is not going to lose anything. It is merely a tax neutral exercise.

View Source

 


 

You may also like:

  1. Credit for TDS - Income offered to tax on receipt basis - the assessee is eligible to claim credit for TDS in assessment year 2016-17, when such professional income has...

  2. Revised return - withdrawing the claim of TDS credit and reduction in corresponding professional income - Since the assessee is accounting his professional (actor)...

  3. The assessee's unexplained cash credits u/s 68 were deleted by the CIT(A) after accepting the submissions that the cash receipts from various sources like cash sales,...

  4. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

  5. The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

  6. Validity of reopening the assessment u/s 147 - Additions u/s 68 and u/s 69A - Cash deposits in assessee’s bank account - The ITAT observed that, the AO was satisfied...

  7. Disallowance of provision for professional cost - Accounts of the company are audited by reputed CA firm and therefore it cannot be said that it is an inadvertent error....

  8. Assessment u/s 153A - Undisclosed cash receipts - merely because some discrepancies were found in assessee’s books in the pre-search period of unaccounted sales, it...

  9. Addition u/s.69A r/w Sec. 115BBE - unexplained cash found during search - Locker was last operated on 29.10.2015. The fact that the locker has not been operated in the...

  10. The assessee made cash deposits during the demonetization period which were treated as unexplained u/s 69A. However, the Tribunal held that the cash deposits were within...

  11. Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank...

  12. Assessment u/s. 153A - Total work in progress shown by the assessee in its books of accounts in each assessment year is to be apportioned between accounted collections...

  13. Addition made on account of unaccounted cash receipts – Cash receipts of brokerage – Sale of car parking charges - the assessee’s purchases cannot be doubted on ad-hoc basis - AT

  14. The High Court held that the Assessing Officer had credible reasons to reopen the assessment u/s 147 for the Assessment Year 2011-12. During the search and seizure...

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

 

Quick Updates:Latest Updates