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Income Tax - Highlights / Catch Notes

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Unexplained money u/s 69A - assessee had not maintained books of ...

Case Laws     Income Tax

April 29, 2020

Unexplained money u/s 69A - assessee had not maintained books of account that is why he opted for 8 per cent income as per section 44AD - Argument of the revenue that the turnover of the assessee has been doubted by the Assessing Officer is totally ill-found - AT

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  8. Unexplained money u/s 69A read with Section 115BBE(1) - no explanation regarding source of cash deposit in savings account - case selected for limited scrutiny, thus...

  9. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

  10. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

  11. Addition u/s 68 - assessee is not required to maintain proper books of accounts since he has opted for presumptive taxation u/s 44AD - Since the assessee is admittedly...

  12. The ITAT Bangalore, in a case involving unexplained money u/s. 69A, addressed deposits in a bank account during the demonetisation period. The DR argued that the...

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