2014 (2) TMI 514 - ITAT COCHIN
Shri A. Abdul Salam M/s AS. Cashew Exporters Versus Dy. CIT, Cent. Cir. Kollam
Addition made u/s 43B of the Act - Assessee has not furnished any explanation to the proposal - Held that:- The assessing officer found that the sales were shown as net of trade discount - the assessee debited an amount in the profit & loss account a ......
2014 (2) TMI 433 - ALLAHABAD HIGH COURT
M/s. JK. Bankers Versus CIT.
Disallowance of Interest u/s 40(b) of the Act – Interest paid to Partners – Deletion made as unexplained cash credits – Survey u/s 133A of the Act – Held that:- The assessee has explained the source of the money in its hands and has, therefore, also ......
2014 (2) TMI 261 - ITAT AGRA
Smt. Vimla Rani Agarwal Versus Income-tax Officer
Addition made u/s 69A of the Act – unexplained money – Held that:- Several transactions through banking channel were carried out in their bank accounts in several lacs to prove that they were regularly getting the amounts on clearance and were withdr ......
2014 (1) TMI 1403 - ITAT MUMBAI
Mrs. Chanda B. Mali Versus Income Tax Officer, Mumbai
Applicability of section 69A - Held that:- The assessee filed before the AO the declaration of gifts, the bank statements of donors and also their source for giving the gifts - The initial onus is discharged by the assessee by proving the identity of ......
2014 (1) TMI 1396 - ITAT DELHI
ACIT, Circle 19 (1), New Delhi Versus Shri Ram Kishan Bhageria,. Prop. M/s. Raj Laxmi Knitting Co.
Addition on account of low G.P. rate - Held that:- The gross profit rate for the year under consideration comes to around 11.82% after reducing the value of excess stock found during search – The last year gross profit rate was 12.5% - The AO has mad ......
2014 (1) TMI 491 - PUNJAB AND HARYANA HIGH COURT
Dr. Raghuvendra Singh Versus Commissioner of Income Tax, Central Circle, Ludhiana
Undisclosed investment - Held that:- As per section 142A(1) inserted by Finance (No.2) Act, 2004 with retrospective effect from 15.11.1972 - Assessing Officer wherever considers fit to estimate the value of any investment referred to in Section 69 or ......
2014 (1) TMI 185 - ITAT HYDERABAD
Shiv Shankar Taparia Versus DCIT, Circle 2 (2), Hyderabad
Unexplained deposits u/s 69A - Held that:- when the assessee claims that he has withdrawn the amount on earlier occasion and the same was kept with him for some time and later it was deposited into the bank account, it is the duty of the assessee to ......
2014 (1) TMI 132 - ALLAHABAD HIGH COURT
Smt. Asharfi Devi Shiksha Samiti Versus The Commissioner Income Tax And Another
Unexplained cash credit in form of corpus donation - Held that:- The AO carried out enquiries to satisfy himself about the identities and creditworthiness of the donors and the genuineness of the transactions - The letters were sent to a number of do ......
2014 (1) TMI 130 - ITAT RAJKOT
M/s. MP. Scrap Traders, Shri Kishorebhai Mohanlal Versus The Asstt. CIT, Circle-5, Rajkot
Unexplained investment - unexplained excess cash - Held that:- The assessee has disclosed and accepted his income during the survey operation through return of income filed - He has also filed an affidavit in respect of retraction - After the assesse ......
2013 (12) TMI 723 - ALLAHABAD HIGH COURT
Commissioner of Income Tax And Another Versus Smt. Sadhana Jain, Meerut
Undisclosed investment - purchase of shares on credit from different 207 persons - Held that:- The details and other evidences in the nature of cheques, their dates, amounts, particulars of banks and addresses of the persons who are stated to have s ......
2013 (12) TMI 362 - ITAT PUNE
Nandan Associates Versus Income Tax Officer, Pune
Addition of income u/s 69A – During the course of survey u/s 133A - The assessee, had received Rs.2.39 crores in cash from Marvel group – The assessee has also received Rs. 1.61 crores through cheque as an advance for agreement to sale - Held that:- ......
2013 (11) TMI 1442 - ALLAHABAD HIGH COURT
Commissioner of Income-tax, Agra Versus Devendra Kumar Gupta
Income of minor - additions u/s 69 - Held that:- The children filed returns under Amnesty Scheme, which had been accepted by the Assessing Officer, treating their separate income as such this amount was not liable to be added in the income of the ass ......
2013 (11) TMI 1235 - ITAT COCHIN
Shri KP. Abdul Majeed Versus The Assistant Commissioner of Income tax
Whether the money transactions carried out through the bank accounts opened in the name of various partnership firms constituted by the employees and relatives of the assessee, belong to the assessee or not? - Held that:- the tax authorities have co ......
2013 (11) TMI 829 - ITAT DELHI
Shri Sohan Lal Sharma Versus DCIT, Circle-26 (1), N. Delhi
Addition u/s 69 of the Income tax act - Relevancy of third party evidence to explain the investment made and addition made u/s 69 of the Income tax act – Held that:- In reply to remand report, the Ld AR submitted that all queries made by the Assessin ......
2013 (11) TMI 526 - KERALA HIGH COURT
KV. Mathew Versus The Income Tax Officer
Addition u/s 69A of the Income Tax Act for unexplained money - Amount of Rs.22,51,000/- was seen as deposit in the Savings Bank Account of the appellant – Held that:- In a letter dated 14.12.2007, as reply to the request of the department, the assess ......