Unexplained deposits in bank account - Amount deposited in the ...

Case Laws Income Tax

April 14, 2023

Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the deposits in the bank account were out of sale of stock therefore the stock of the assessee has depleted and the cash has come in respect of stock, such sales had been disclosed in the trading account against the purchase which had not been doubted, neither the opening and closing stock had been doubted. - Additions deleted - AT

View Source

← Previous Next →

Unexplained deposits in bank account - Amount deposited in the ...

Case Laws Income Tax

April 14, 2023

You may also like:

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

Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

Unexplained deposits - Amount found deposited in the joint account of assessee as well as his wife in the savings bank account - Even if it is presumed that the deposits...

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...

Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank...

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...

Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

Unexplained cash deposits in Bank account - The explanation given by assessee cannot be simply rejected when he states that he encashed the traveler cheques and...

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...

Unexplained Cash withdrawn out of bank account - Gap between withdrawal and deposit of the cash - The heafty amount was withdrawn 70 days ago for utilising the same for...

Deposits by the assessee in bank account during demonetization period were not unexplained. Section 69A is inapplicable as there were proper entries for cash sales, cash...

Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

Unexplained money u/s 69A - cash deposit in the Saving Bank Account - Since the assessee has not disclosed this bank account in the return of income, therefore, deposit...

Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of...

Revision u/s 263 - source of cash deposited in the Bank account - There is a direct nexus between the transaction of sale and the cash deposited in the bank account of...

Quick Updates: