Addition 69A - undisclosed income is from business or any other ...

Section 69A: Undisclosed Income Requires Explanation; Business Receipts May Incur 8% u/s 44AD.

December 2, 2022

Case Laws Income Tax AT

Addition 69A - undisclosed income is from business or any other source - unexplained money OR only 8% of the cash deposit u/s 44AD - The burden u/s.69A of the Act is only to give a satisfactory explanation. The facts and circumstances of a given case would be sufficient to draw an inference that receipts can be attributed to only business and no other source. - AT

View Source

← Previous Next →

Addition 69A - undisclosed income is from business or any other ...

Section 69A: Undisclosed Income Requires Explanation; Business Receipts May Incur 8% u/s 44AD.

December 2, 2022

Case Laws Income Tax AT

You may also like:

Ex-parte assessment u/s 144 treated unexplained cash deposits as undisclosed and unexplained income, added to the assessee's total income u/s 68 read with Section 69A....

Offshore Supply Contracts were executed and concluded outside India, hence no income deemed to accrue or arise in India as per Section 9(1) and DTAA provisions. Receipts...

Addition u/s. 69A - income surrendered during survey - undisclosed business income or income from other sources - What has been found during survey is excess stock of...

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

Addition of income u/s 69A or Business income - surrender of income during survey proceedings - when all the incomes earned by the assessee are only from the business...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Amendment of section 197. - Scope extended - where, in the case of any income of any person or sum payable to any person, the income-tax is required to be deducted at...

Higher rate of tax @60% u/s 115BBE - though the alleged surrendered income is a business income but since assessee being individual having no limitation of earning...

The Income Tax Appellate Tribunal held that the interest income receipts of the assessee should be treated as "business income" and not "income from other sources". The...

Section 263 revision - Unexplained income u/s 69A read with Section 115BBE - Cash seized shown as 'income from other sources' - Whether to be treated as unexplained...

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

Undisclosed income declared not to be included in total income - THE INCOME DECLARATION SCHEME, 2016 - The amount of undisclosed income declared in accordance with...

Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

Chargeability of tax u/s 115BBE - Nature of income declared in survey proceedings u/s. 133A? - Undisclosed income u/s 69A and 69C or Business Income - when the...

Quick Updates: