Assessment u/s 153A - profit from the sale of the plot - ...

Case Laws Income Tax

September 27, 2023

Assessment u/s 153A - profit from the sale of the plot - additions in the hands of broker / commission agent - unexplained and undisclosed income of the appellant - In the absence of any material forthcoming on record to show that any addition was made by the revenue in the hands of the vendor-Company or its Managing Director for receiving any unaccounted for cash amount of money in respect of the transaction of sale of Plot, no addition can be made in the hands of Broker - HC

View Source

← Previous Next →

Assessment u/s 153A - profit from the sale of the plot - ...

Case Laws Income Tax

September 27, 2023

You may also like:

Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

TDS u/s 195 - Disallowance of sales commission paid to foreign agents - There is no dispute that these foreign agents do not have permanent establishment in India and...

CENVAT Credit - services provided by the Commission Agent - In the present case, the Commission Agent is not rendering any service towards sale/Sales Promotion of the...

Validity of assessment u/s 153A of the Income Tax Act, where material was found during the search of a person other than the assessee. It examines whether such material...

Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

Addition of commission expenses and franking charges - Allowable business expenditure or not? - The Tribunal acknowledged that the assessee had provided details of the...

Determination of income - Commission income or trading activity - addition to the returned income by taking 8% net profit on turnover - in case the assessee would have...

Double additions - The claim of the appellant that such addition resulted into double taxation of the same income in the same year is also acceptable because on one hand...

Estimated income from sale of plots- In this case, except agreement to sale for one plot, the AO does not have any other credible evidence to support his estimation of...

Classification of service - Broker v/s Commission agent - ship brokers - brokers are purely intermediaries who do not act on behalf of either ship owner or the charterer...

Assessment u/s 153A - completed assessments to be interfered with by the A.O. while making the assessment u/s 153A - The Tribunal upheld the decision of the Ld. CIT(A)...

Service tax credit taken on commission agent services - If the credit paid to foreign commission agents for sales promotion is admissible, naturally, service tax paid to...

Quick Updates: