Assessment of trust - addition as made by the AO by doubting the ...

October 28, 2022

Case Laws Income Tax AT

Assessment of trust - addition as made by the AO by doubting the genuineness of the expenditure incurred on free distribution of medicines to patients and other social organizations - The statements/material cannot be used on the back of the assessee and if done so it is against the principles of natural justice - AT

View Source

← Previous Next →

Assessment of trust - addition as made by the AO by doubting the ...

October 28, 2022

Case Laws Income Tax AT

You may also like:

In the present case, the Assessing Officer (AO) disallowed the expenditure claimed u/s 57(iii) of the Income Tax Act on an ad-hoc basis. The AO did not challenge the...

Addition on account of share premium received by the assessee u/s 56(1) - income from other sources - the addition has been admittedly made by the ld. AO u/s.56(1) of...

Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

Exemption u/s 11 - Expenditure on distributing prize, Honorarium to jury, Event management expenses and Employee benefits - Whether expenditure incurred directly or...

Assessment of trust - Exemption u/s 11 - The expenditure, if incurred in an earlier year is adjusted against the income of a later year, it has to be held that the trust...

Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

Unexplained expenditure u/s 69C - AO in the course of assessment had made enquiries from the vendors u/s 133(6) and since none of them responded to the same doubted...

Assessment of trust - corpus donation receipts - addition u/s 68 - Nothing was brought on record that they were actually functioning at the time of donations and when...

Undisclosed receipts were added to gross profit by the AO, but the assessee claimed corresponding expenditure. CIT(A) deleted the addition, terming it double assessment....

Disallowance of Capital Expenditure written off - CIT-A had given a categorical finding that Capital expenditure incurred by the assessee was not doubted by the ld AO,...

Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

Assessment of trust - addition made u/s 115BBC on account of anonymous donations - The ITAT held that the addition made by the AO was not in accordance with the...

Anonymous donations maintained record of identity, address, PAN, Aadhaar details of donors, hence provisions of section 115BBC not applicable. AO doubted genuineness...

Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

Quick Updates: