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 September 2019 Year 2019 This

Addition u/s 69C on the basis of valuation report - unexplained ...


Court Upholds Addition u/s 69C for Unexplained Expenditure Due to Lack of Proper Books and Supporting Documents.

September 23, 2019

Case Laws     Income Tax     AT

Addition u/s 69C on the basis of valuation report - unexplained expenditure - assessee has not maintained books of account and fail to furnish bills and vouchers in support of material purchased to substantiate the cost of construction of the house - additions confirmed.

View Source

 


 

You may also like:

  1. Unexplained expenditure u/s 69C - The High Court found that the Assessing Officer's reliance on cumulative figures provided by CBIC, without specifying the individual...

  2. Addition u/s 69C – Unexplained expenditure - only because parties has given a different accounting treatment in its books of account, it cannot be said that the assessee...

  3. The assessee denied the entries representing unaccounted cash expenditure, stating they were merely MIS reports for discussion purposes, containing approximate project...

  4. 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...

  5. Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

  6. Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

  7. Assessment u/s 153A - unexplained investment in Hotel Building - addition under sec 69 r.w.s. 115BBE - reliance on DVO report post-search - Held, DVO report...

  8. The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating...

  9. Reopening of assessment under old regime - scope of new regime - scope of TOLA - In this detailed judgement, the Court found that the notice issued under Section 148 was...

  10. Unexplained expenditure u/s 69C - ITAT has also noted that the huge addition was made in the case of assessee’s group in the block assessment on the basis of the books...

  11. Additions cannot be made u/s 69C of the Act, as unexplained expenditure, towards difference between purchase price found in loose slips and amount recorded in books of account - AT

  12. Addition u/s.69C - unexplained expenditure - Admittedly, in the first round of proceedings, there was no addition made u/s. 69C by the revenue. AO could not have made...

  13. The Appellate Tribunal considered the legality of additions based on a diary seized from a third party. The Tribunal held that the presumption u/s 132(4A) of the Act...

  14. Unexplained expenditures and unaccounted cash payment - Onus to proof - once the revenue has treated the entire amount of expenditure as unexplained expense under...

  15. ITAT dismissed Revenue's appeal concerning unexplained money under s.69A, rejecting additions based on difference between agreement to sale and final sale deed values....

 

Quick Updates:Latest Updates