Addition u/s. 68 - the CIT(A) granted partial relief to the ...

Case Laws Income Tax

December 18, 2020

Addition u/s. 68 - the CIT(A) granted partial relief to the assessee. This relief was granted to the assessee based upon an elaborate remand report filed by the AO which has been extracted in the order passed by the CIT(A) - ITAT confirmed the order of CIT(A) - Revenue appeal dismissed - HC

View Source

← Previous Next →

Addition u/s. 68 - the CIT(A) granted partial relief to the ...

Case Laws Income Tax

December 18, 2020

You may also like:

Addition being 40% of cash balance shown in the balance sheet as income of the assessee - A.O without any basis, simply says that the cash in hand is excessive and...

The ITAT Visakhapatnam addressed an addition u/s 69A for unexplained cash deposits in the bank account. The assessee failed to explain the sources for cash deposits,...

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...

Addition restricted to parties mentioned in WhatsApp chat; estimation of gross profit (GP) at 8.60% on undisclosed sales of Rs. 26,58,600 and Rs. 6,11,043 confirmed;...

Addition u/s. 69 based on information received from Australian Tax authorities - There is absolutely no other material in the hand of the A.O. of proving the addition in...

Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing the returns - The petitioner sought relief based on the timing of filing returns after receiving...

Addition of income u/s 56(2)(x)(b)(B) - under valuation of stamp duty value on purchase consideration of the property u/s 50C - The assessee asserts that only a partial...

The assessee filed a revised return of income to correct the addition based on professional receipts in the original return. The hospital made a total payment of Rs....

Validity of the order of Settlement Commission, the JDGFT - Advance License Scheme - extension of time limit for discharge of export obligation, denied - Partial relief...

Approval granted u/s 10(23C)(iv) revoked - assessee has not maintained separate books of account for its business and charitable activities - the revenue must bring on...

Additions towards income earned from undisclosed investment - The addition of income earned from the investment is also solely based upon the admission by the ex-partner...

This case deals with the levy of penalties u/ss 271AAA and 271(1)(c) of the Income Tax Act in relation to various additions made to the assessee's income based on seized...

Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

Valuation by DVO - addition based on estimated cost disregarding actual cost as per books - applicability of section 142A before amendment - non-rejection of books - AO...

Foreign contribution income recognition based on accrual accounting - assessee recognized income and unspent grant liability for AY 2021-22, offered unspent grant as...

Quick Updates: