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 December 2019 Year 2019 This

Additions u/s 68 - unexplained cash credit - From the details of ...

Case Laws     Income Tax

December 14, 2019

Additions u/s 68 - unexplained cash credit - From the details of share applicants companies it is clear that they have meagre income or nil income - As per the bank statement, huge transactions have been made and the amount i.e. more or less have been withdrawn on the same day - Additions confirmed.

View Source

 


 

You may also like:

  1. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

  2. Unexplained cash credits u/s 68 were added due to assessee's failure to discharge onus regarding bogus share capital including premium receipts. Despite filing...

  3. Addition u/s 68 - unexplained cash credit - The claim of the assessee company of having received share application money from the 41 share applicant/subscriber companies...

  4. Unexplained cash credit u/s 68 - bogus share capital/share premium - The tribunal noted that the appellant's company had witnessed significant growth over the years,...

  5. Addition u/s 68 - Unexplained share transactions - Consideration received other than cash - There are no details on facts as to what was the investment which was made by...

  6. The assessee received share application money and premium from a company that admitted to providing accommodation entries. The AO rejected the assessee's claim, citing...

  7. Addition u/s 68 - addition in share capital and share premium, identity and creditworthiness of the share holders, valuation report - Since no cash was involved in...

  8. Addition u/s 68 - Unexplained cash credit - CIT(A) accepted the source of cash deposits without any supporting documents, the issue require detailed enquiry with regard...

  9. Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

  10. Addition u/s 68 - assessee submitted all the necessary details in support of the share applicant and share premium receipt - The A.O. has not pointed out any defect in...

  11. Addition u/s 68 or 56(2) - Unexplained cash credit u/s 68 - share transactions - the valuation aspect of the shares is made on the Discounted cash flow method (DCF) and...

  12. Non-proving identity, creditworthiness, and genuineness of share premium received cannot be treated as unexplained income if sufficient documentary evidence is provided....

  13. The Appellate Tribunal upheld the Addition u/s 68 of the Income Tax Act for share application money received from various individuals. The company failed to prove the...

  14. Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

  15. Addition u/s 68 - unexplained share premium and share capital - the assessee has substantially provided materials to prove the genuineness of the share holders apart...

 

Quick Updates:Latest Updates