Home Highlights December 2010 Year 2010 This

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1. The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

2. Assessee failed to file return of income u/s 139 but received notice u/s 148. Despite opting for presumptive taxation scheme u/s 44AD, which does not require maintaining...

3. Unexplained cash credit u/s 68 - hare capital against the said share application money was allowed in the earlier years - since the alleged sum was received during the...

4. The assessee's unexplained cash credits u/s 68 were deleted by the CIT(A) after accepting the submissions that the cash receipts from various sources like cash sales,...

5. Unexplained cash credit u/s 68 - cash received from partners - difference pointed out by the AO as capital introduced by both the partners of the assessee firm different...

6. Addition u/s 68 - Unexplained cash credit - share capital and share premium - The assessee consistently escaping from appearing before the ld. AO and the appellate...

7. Unexplained cash credit - unsecured loan u/s 68 - The assessee has limited means to call for elaborate information required by AO. Looking to the list of documents filed...

8. Addition u/s 68 - Unexplained cash credit - It is well settled principle that the repayment of cash credit would not prove the genuineness of cash credit. It is the...

9. Unexplained cash credit under section 68 - if we deny the claim of the assessee for having received the money from the society, it would lead to the double addition of...

10. Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

11. Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

12. Cash credit - Additions u/s 68 instead of u/s 69 - Mentioning of wrong Section in the orders of the authorities below would not be fatal to the case of Revenue. May be...

13. The assessee offered additional income under the head 'Income from other sources' during the course of survey proceedings. The Assessing Officer treated it as income...

14. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

15. Addition u/s 68 - unexplained cash credit (security premium) - Except filing the appeal, there is no other effort from the side of the assessee to pursue its appeal....