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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Addition u/s 68 - loan amount / advance money - accommodation ...

Case Laws     Income Tax

September 10, 2019

Addition u/s 68 - loan amount / advance money - accommodation entries - transactions with an entity who was unregistered firm, the Stock Exchange Board of India, SEBI had barred its director from capital market - Action of SEBI has no bar - AT

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  1. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

  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 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...

  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 - accommodation entry - additions made on the basis of retracted statements - amount received during the earlier years - assessee has furnished all the...

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

  8. Addition u/s 68 - non independent application of mind - accommodation entries - share application money - Mere non production of Director of said share holder company...

  9. 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...

  10. Additions on account of Bogus unsecured loans and bogus share capital money - Revenue argued that the unsecured loan from entities controlled by a hawala operator should...

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

  12. Addition u/s 68 - cash credit - reliance of statement - creditors had appeared and confirmed the transactions of loans advanced to the assessee. - AO had no valid basis...

  13. Addition u/s 68 - Revenue failed to provide that parties were in accommodation entries in form of loan and share application money after charging certain commission as...

  14. Unexplained unsecured loan u/s. 68 - AO inter-alia observed that the assessee has shown squared off unsecured loans allegedly received from an entity - bona fides of...

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

 

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