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 October 2022 Year 2022 This

Addition u/s.69 towards cash deposits in the bank account - ...

Case Laws     Income Tax

October 8, 2022

Addition u/s.69 towards cash deposits in the bank account - determining the peak credit - where the peak is added, the investment made by the assessee has to be added separately and it cannot be claimed that the cash re-deposited in the bank after withdrawal was used for purchase of any other asset. Thus we uphold the addition - AT

View Source

 


 

You may also like:

  1. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

  2. Addition u/s 68 - Addition as income of brokerage/commission @ 2% of cash deposits as accommodation entry provider - onus to prove - The High Court concluded that the...

  3. Unexplained investment u/s 69 - cash deposit - the alleged transactions of cash deposits and corresponding entries of cheque issued were not in the nature of any...

  4. The case pertains to the addition of undisclosed income u/s 69A of the Income Tax Act, wherein the peak credit method was applied. The Commissioner of Income Tax...

  5. Addition u/s 69 - undisclosed foreign bank account - addition being the peak balance - Matter remanded back to AO for adjudication of the issue afresh stating that the...

  6. Addition u/s. 69/68 - Cash deposit in joint bank account - We are unable to comprehend as to how an addition can be made in the hands of assessee towards cash deposits...

  7. Addition on the basis of Peak Credit - unexplained credit entries in the bank account - basis of Peak Credit can be adopted to remove the cascading effect of the...

  8. Addition of peak credit amount – Unexplained credits – Addition u/s 68 and 69 - only the peak credit can be taken as income out of the deposits made during the year to...

  9. Addition u/s 68 v/s 69 - unexplained deposit in the bank account - sum was not credited in the books of accounts, but the amount was found credited in the bank account...

  10. Addition on account of cash deposit in the bank account - It is not explained why assessee was making deposits in his bank account on different dates of different amount...

  11. The ITAT considered the issue of cash deposits and other credits in the assessee's saving bank account. The tribunal noted that the cash deposits were not made in a...

  12. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

  13. Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

  14. Addition u/s 69 - Cash/credit deposit in the bank account - Assessment u/s 44AD - The ITAT supported the FAA’s enhancement of the addition. The assessee's failure to...

  15. Addition u/s 68 - unexplained cash deposited in bank accounts - Bank account / statement as books - an addition made in respect of a cash deposit in the bank account of...

 

Quick Updates:Latest Updates