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

Addition u/s 68 - alleged that loan transaction was ...

Case Laws     Income Tax

August 26, 2019

Addition u/s 68 - alleged that loan transaction was accommodation entry - Two authorities and the Tribunal have evaluated each piece of evidence to conclude that this transaction was not a genuine loan transaction - merely because another view by re-appreciating the evidence is possible, it cannot give rise to a question of law as envisaged u/s 260A

View Source

 


 

You may also like:

  1. 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...

  2. Addition u/s 68 - assessee has substantiated the transaction regarding share application money received by it was genuine transaction and the same were not accommodation...

  3. Addition relating to alleged commission / interest - even if the loan provided by the family members of the assessee to Bajaj Group is not actual loan and is only...

  4. Unsecured loans treated as unexplained cash credits u/s 68. Interest paid on such unexplained loans also added to income. Assessee's contention of repayment of loans...

  5. Addition u/s 68 - bogus share transactions - as alleged transactions in shares, “penny stock” are fraudulent and accommodation entries - The Appellate Tribunal noted...

  6. Addition u/s 68 - unsecured loans - The loan transactions are routed through regular banking channels and reflected duly in the annual accounts of the lender company....

  7. 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...

  8. Addition u/s 68 - Addition on account of joint venture agreement - the addition made u/s. 68 of the Act only on the basis of two statements which could not stand the...

  9. The ITAT Mumbai held that addition as unexplained income based on accommodation entries lacked proof of transaction nature, creditworthiness, and genuineness. AO's...

  10. Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The...

  11. Addition u/s 68 - accommodation entry - additions made on the basis of retracted statements - amount received during the earlier years - assessee has furnished all the...

  12. Addition u/s 68 - unexplained Cash Credit - Though the transactions of the loan received by the assessee are not free from any doubt but in either of the case, once...

  13. Addition under Section 68 - Accommodation entries - the addition under Section 68 cannot be made in the case of the conduit companies. - AT

  14. Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown...

  15. The ITAT Mumbai, in a case involving addition u/s 68 for unexplained cash credit from loans taken from various parties, held that only loans taken during the current...

 

Quick Updates:Latest Updates