Addition u/s 68 - AO neither find any fault with the documents ...

Case Laws Income Tax

August 12, 2019

Addition u/s 68 - AO neither find any fault with the documents furnished by the assessee nor make any independent enquiry with the share applicants in order to find out the veracity of the submissions made by the assessee, it has to be presumed that the AO was satisfied with the details furnished - no addition

View Source

← Previous Next →

Addition u/s 68 - AO neither find any fault with the documents ...

Case Laws Income Tax

August 12, 2019

You may also like:

Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

Addition u/s 68 - share capital and premium - Making investment through cash in itself raises doubt and the assessee has merely furnished confirmation from said...

Addition u/s 68 - unsecured loans Addition u/s 2(22)(e) - Deemed dividend - The Tribunal found merit in the Assessee's submissions, noting that all relevant documents...

Addition u/s 68 and 69C - It is neither the AO’s case that the loan creditors are not income-tax assessee’s nor has he alleged that the documents and evidences furnished...

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...

The Assessing Officer (AO) made additions u/ss 69C and 68 for undisclosed credit card expenditures in foreign currencies based on material found during a survey. The...

Addition u/s 68 - Unexplained loan - Neither any written contract nor any identity of the Creditor, having been established in the present case, we cannot find any fault...

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 on account of share capital - assessee has filed sufficient documents e.g. PAN, bank statements, etc. to establish the identities and creditworthiness -...

Assessee obtained loans from two corporate entities to purchase properties. AO treated these loans as unexplained cash credits u/s 68, relying solely on third-party...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

Unexplained share capital and premium received by assessee company was its own unaccounted money flowing back in form of premium on share allotment. Assessee filed...

Addition u/s. 68 being unsecured loans - onus to prove - The ITAT held that, primary onus can be discharged by establishing/furnishing the proof of the identity of the...

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

Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

Quick Updates: