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 2022 Year 2022 This

Unexplained expenditure - Addition on the basis of contents of ...

Case Laws     Income Tax

June 16, 2022

Unexplained expenditure - Addition on the basis of contents of the seized document - keeping in view the fact that the assessee has offered the amounts mentioned on the impounded material which has been accepted by the revenue and also keeping in view that revenue has not brought anything on record to prove that the assessee is liable to pay the taxes more than what has been already disclosed - additions deleted - AT

View Source

 


 

You may also like:

  1. Addition of unexplained expenditure u/s 69C - AO not verified the actual contents of seized material and addition made based on Report of the Special Auditor - AO is...

  2. Assessment u/s 153A - unexplained expenditure on account of cash payment made towards land - the addition made by the A.O. and upheld by the ld. CIT(A) on the basis of...

  3. 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...

  4. Digital images and Excel files found on partner's phone cannot be relied upon for making additions u/s 69C for unexplained expenditure. Loose papers and documents not...

  5. Assessment u/s 153A - unexplained cash credit u/s 68 - addition based on statement - Such confessions have been retracted and then the addition could not withstand the...

  6. Scope of SCN - Presumption with regards to documents seized - In view of Section 36A of Central Excise Act, 1944 it is only when such document is tendered in evidence...

  7. Addition on the bases of seized material procured from corporate office - Since the seized material is neither the regular books of account nor kept in the regular...

  8. The assessee denied the entries representing unaccounted cash expenditure, stating they were merely MIS reports for discussion purposes, containing approximate project...

  9. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

  10. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

  11. Addition based on unsubstantiated documents like loose sheets, jottings, and Excel sheets - unaccounted cash receipts from students - cannot be sustained. Statements...

  12. 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...

  13. Addition on account of payment of undisclosed commission - addition cannot be made in the hands of the assessee for the reason that, firstly, the name of the assessee is...

  14. Addition u/s 68 - addition on the basis of receipts in the ledgerised cash sheet - the addition made by the AO has led to double addition and the same nature of...

  15. Unaccounted expenditure - Unexplained source of cash - it is difficult to believe that a person who withdraws money from the bank account gives it to someone else for...

 

Quick Updates:Latest Updates