Home Highlights September 2012 Year 2012 This

You may also like:

1. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

2. Denial of Exemption u/s. 11 - non maintaining of separate ledger accounts - assessee is maintaining separate ledger for earning this income and also maintaining separate...

3. Amendment of section 44AA. - maintenance of accounts by certain persons carrying on profession or business. - every person carrying on the business shall, if the...

4. Addition u/s 69A - respondent/assessee is a Non-Resident Indian and his source of income in India being from interest on bank accounts and interest on income tax refund...

5. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

6. Penalty u/s 271A and u/s 271B - not maintaining books of account and for not getting the booking of account audited as provided u/s 44AB - Penalties levied u/s 271A for...

7. Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where...

8. Addition u/s 68 - assessee has shown its return of income u/s 44AD - it is undisputed fact that the assessee had not maintained books of account that is why he opted for...

9. Penalty u/s 271B - failure to get the books of accounts audited u/s 44AB - addition made during the assessment proceedings on the basis of unaccounted sale cannot be...

10. Unexplained bank deposit u/s 68 - bank passbook - After the introduction of the definition of the books or books of account u/s 2 (12A), the passbook can also be...

11. This case pertains to the addition made u/s 69A of the Income Tax Act regarding unexplained cash found during a search operation. The assessee produced a cash book to...

12. Penalty levied u/s 271AAB - assessee in the return of income has disclosed income on account of undisclosed jewellery - The assessee has neither earned any business...

13. Since the assessee had no business income, no books of account were maintained and the addition was made only on the basis of the assessee’s pass book, which is not a...

14. Section 68 addition for cash deposits cannot be made where assessee filed return u/s 44AD and did not maintain books of accounts, as provisions of section 68 apply only...

15. 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...