Undisclosed income - extra amount subject to verification - ...

Case Laws Income Tax

September 11, 2019

Undisclosed income - extra amount subject to verification - Assessee in his search statement clearly stated that investment mentioned in Col B of the seized excel sheet is subject to verification from books of account and it may be more or at lesser figure - CIT(A) has rightly deleted the addition of extra amount - AT

View Source

← Previous Next →

Undisclosed income - extra amount subject to verification - ...

Case Laws Income Tax

September 11, 2019

You may also like:

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

Undisclosed income computation u/s 158-BB for search assessment cases. Assessing officer can consider materials found during search and other available information...

Penalty u/s 271AAB - treating an amount included in the Return of Income as undisclosed income susceptible to penalty - search conducted u/s 132, assessment carried out...

Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

Search and seizure – In the Statement of income of assessee that the income received on were disclosed in the regular return, of income prior to the date of search - No...

Penalty levied u/s 271AAB - Undisclosed income - Assessee has neither made any surrender of any undisclosed income during the search action nor the penalty has been...

Undisclosed income surrendered during search must fall within the definition of undisclosed income for penalty u/s 271AAA to be justified. Assessing Officer must record...

Claim of bad debts against the undisclosed income found during search not allowed - AT

The case involves the validity of assessments u/s 153A and 132 of the Income Tax Act. In the absence of incriminating material seized during the search, assessments...

Undisclosed income of the assessee for the purpose of Chapter XIV B of the Income Tax Act - when section 158BB(3) is read with section 158B(b), which defines undisclosed...

Assessment u/s 153A - While recording the statement during the course of search and seizure and survey operations, no attempt should be made to obtain confession as to...

Undisclosed income u/s 68 - In the present case the assessee has explained the nature and source of the amount in question and to substantiate his contention submitted...

Additions u/s 153A solely based on a sketchy statement of an accountant u/s 132(4), which in turn is based on a confessional statement of a director in a previous...

Quick Updates: