Undisclosed deposits in foreign bank account - assessee a joint ...

Case Laws Income Tax

March 5, 2024

Undisclosed deposits in foreign bank account - assessee a joint holder along with her husband - The ITAT remanded this issue to the AO for fresh examination, recognizing the assessee's claim of non-involvement in the account's operations and her dispute with her husband. The decision to restore the issue was based on the need for a fair reassessment after allowing the assessee an opportunity to be heard, without directly concluding on the matter.

View Source

← Previous Next →

Undisclosed deposits in foreign bank account - assessee a joint ...

Case Laws Income Tax

March 5, 2024

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. 69/68 - Cash deposit in joint bank account - We are unable to comprehend as to how an addition can be made in the hands of assessee towards cash deposits...

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

Black Money Undisclosed Foreign Income And Assets And Imposition Of Tax Act, 2015 - Sole beneficiary of the Foreign Account - Merely mentioning the name of the assessee...

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...

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...

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 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 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...

Addition u/s 68 - unexplained deposits in Dubai bank account - CIT(A) has observed that taxability of sum in Dubai Bank account is beyond the jurisdiction of Indian tax...

Imposition of penalty u/s 271(1)(b) - non-compliance of the notice issued under Section 142(1) - if the assessee really had no connection with the Swiss Bank accounts,...

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 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...

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...

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...

Quick Updates: