Home Highlights February 2013 Year 2013 This

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1. Additions u/s 69 - The payment of additional stamp duty may be on the basis of the valuation of the valuer of the stamp Act authority but same ipso facto cannot be said...

2. Addition u/s 69 - Unexplained investment or not - only when the investment is not recorded in the books of accounts or the explanation by the assessee regarding the...

3. Unexplained investment/unexplained cash credit under section 68 & 69 - no addition is called for on account of baseless allegation of unexplained investment by the...

4. The assessee purchased agricultural land whose stamp duty valuation was lower than the actual purchase consideration. The authorities sought to invoke section 56(2)(x)...

5. Unexplained money u/s 69A or investment u/s 69 - Once an AO finds that an investment has been made, he has to examine the Assessee's explanation as to the source of that...

6. Unexplained investment u/s 69 - The tribunal closely examined the additions made under Section 69 related to unexplained investments in stock. The assessees argued that...

7. Unexplained investment u/s. 69 - Asstt. Comm. of Commercial Taxes estimated the valuation of WIP without mentioning the quantity or rate of the individual item - AO...

8. The Appellate Tribunal held that the addition of Rs. 51.20 lacs as unexplained investment u/ss 69 or 56(2)(x)/6(2)(vii) was unjustified as there was no evidence of...

9. Unexplained investment u/s 69 - The aspect that this income was not declared in the original return of income cannot be a ground to automatically conclude that it is...

10. Unexplained investment u/s 69 - wire transfer from NRE account - assessee is a non-resident - transfer from the account of the assessee’s son, who is also a resident of...

11. Addition u/s 69C - unexplained expenditure - Since the assessee purchased the stamp and made the payment through RTGS then there is no question of considering the same...

12. Unexplained investment u/s. 69 - DDIT (Inv.) could not have referred the question of cost of construction/valuation of the assessee’s building to the Valuation Officer...

13. Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be...

14. The ITAT Raipur considered the addition u/s 69 or 56(2)(vii)(b) concerning the variance between guideline rates and actual purchase prices of immovable property. The...

15. Unexplained investment u/s 69 - Amount advanced by M/s. KSR Constructions to the assessee has to be construed as the amount given by M/s. KSR Constructions on behalf of...