Addition on account of advance against the properties - Assessee ...

Case Laws Income Tax

February 16, 2023

Addition on account of advance against the properties - Assessee has improved his explanation step-by-step and instead of explaining facts in a proper manner at respective stage, took a contradictory stand - Now before us, assessee went one step ahead by taking plea that such advances were refunded in next assessment year. - Additions confirmed - AT

View Source

← Previous Next →

Addition on account of advance against the properties - Assessee ...

Case Laws Income Tax

February 16, 2023

You may also like:

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Addition u/s 56(2)(ix) - Receipt of advances against the property - In factual matrix, the advance amount was never be forfeited or adjusted in the capital account of...

Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

The assessee's contentions were upheld by the Tribunal regarding various additions made by the Assessing Officer. The Tribunal ruled that the RTGS transfer from the...

The CIT(A) partly allowed and restricted the addition on account of commission expenses at 0.25% as compared to 2% adopted by the Assessing Officer. The coordinate bench...

Addition u/s 56(vii) - Addition on account of alleged under-valuation - Since, in the instant case, the assessee has sold her 12.5% share in the property to her son at...

Source of Cash deposited into the Bank Account - Agricultural income - advances received from customers in land transactions - CIT(A) ought to have considered the...

Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

The assessee, following the mercantile system of accounting, had treated Annual Maintenance Charges (AMC) collected in advance from customers for lift maintenance as a...

Addition under sec.41(1) on account of cessation of liability - assessee has no explanation to prove that the creditors in its books of account are genuine - additions...

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Bad Debts - Investments written-off - Nevertheless, no new manufacturing unit would have come into existence and no new asset was proposed to be acquired by the assessee....

Unexplained cash credits in the bank account of the assessee - except stating that the Assessing Officer has already made additions towards investments made in property,...

Addition on account of cash found short u/s 68 and also holding that the same to be taxed u/s 115BBE - Cash short, at the most represents expenses / outgoings out of...

Addition u/s 69 - unexplained investment - addition had been made by the AO by treating the amount deposited to the bank account owned by the brother of the assessee as...

Quick Updates: