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 June 2020 Year 2020 This

Addition on account of Sundry Creditor merely for want of PAN of ...

Case Laws     Income Tax

June 24, 2020

Addition on account of Sundry Creditor merely for want of PAN of those sundry creditors - since the assessment year under consideration is 2014-15 therefore furnishing of PAN number is not mandatory as per Rule 115B of the Income Tax Rules, vide entry No. 18, which came into force with effect from 1stJanuary, 2016.

View Source

 


 

You may also like:

  1. Addition u/s. 41 (1) or u/s 68 - no reply by sundry creditors u/s 133(6) - AO has accepted purchases as genuine and the amount outstanding in the name of sundry...

  2. Addition of sundry creditors - Assessee has given the details about the PAN of that particular creditor and also made TDS payment - Merely because confirmation has not...

  3. Legality of order passed U/s 147 - addition on account of alleged unexplained sundry creditors - AO should have collected the information from the creditors directly to...

  4. Addition on account of section 68 - Unexplained sundry creditors - adoption of 1% Net profit on the turnover for various assessment years will be reasonable and will...

  5. Reopening of assessment u/s 147 - Reassessment after expiry of four years and just prior to expiry of six years from the end of the relevant assessment year -...

  6. Additions on the ground of Bogus sundry creditors - since for the earlier years, assessee had opted for presumptive taxation under section 44D of the Act and therefore,...

  7. Addition u/s 68 - outstanding sundry creditors - the said sundry creditors were paid in the subsequent year through banking channels and that the assessee has had...

  8. Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the...

  9. Addition u/s 41(1) - outstanding balances of sundry creditors and other liabilities - Unconfirmed bill, advance from customers and sundry creditors which are static...

  10. Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the...

  11. Addition u/s 68 - Credit balance pertaining to sundry creditors - by disallowing only balance outstanding of these parties as at the end of the year, the Revenue has...

  12. IT - Cash system of accounting, merely because Sundry Creditors are shown in the balance sheet, AO is not justified to reject books of accounts.

  13. Addition u/s 41(1) on bogus creditors - amount received from 10 parties are not sundry creditors as they have advances for booking of plot of lands of which few have...

  14. The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

  15. Addition u/s 68 - Unexplained sundry creditors - CIT(A) deleted the additions - if we presume that the basis adopted by the CIT(A) is correct then also the nature and...

 

Quick Updates:Latest Updates