Home Highlights September 2013 Year 2013 This

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1. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

2. Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

3. Undisclosed income of the assessee - bogus sale of agricultural produce - preponderance of probability theory - The Tribunal noted that the AO had not properly...

4. Addition u/s 68 - Disallowance of gift received from father and brother - the agricultural income disclosed by them cannot be disputed unless some facts emerged that...

5. Additions u/s 68 - income from un-disclosed sources - Agriculture Income or not - exemption of income u/s 10(1) read with Section 2(1A) denied - onus to prove - The...

6. Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

7. Addition u/s 68 - burden of proof - share application money - The High Court, upon reviewing the submissions and evidence, concurred with the ITAT's findings. It...

8. Addition u/s 68 - proof of source of the donor - Gift from his brother (relative) - The assessee had not proved his brother's source of income to the Department - demand...

9. Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

10. Addition u/s 68 - In this case, the AO has made additions only on the basis of statement recorded from third party ignoring various evidences filed by the assessee to...

11. Additions u/s 68 - Any appellate authority cannot reject the evidences without any discussion or reason. The CIT (A) has not mentioned as to what more evidence were...

12. Addition u/s 68 - unsecured loans Addition u/s 2(22)(e) - Deemed dividend - The Tribunal found merit in the Assessee's submissions, noting that all relevant documents...

13. Revision u/s 263 - Agricultural income - the assessee has only proved that the land is an agricultural land. The assessee in order to prove the agricultural income had...

14. Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

15. Addition u/s 68 - Unexplained cash deposit - sale of land being agricultural receipt - the purchase and sale has been done in a short period of time. In this view of the...