Home Highlights April 2014 Year 2014 This

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1. Income from other sources u/s 56 or unexplained cash receipts u/s 69A - when the amounts received in cash against the same transaction of sale of flats which have not...

2. Unexplained cash deposit for settling credit card bills - How much cash an assessee keeps cannot be reason for dismissing the explanation regarding payment made in cash....

3. Unexplained cash credits u/s 68 - huge amount of cash deposited and withdrawal from bank - once the Revenue has not disputed that the assessee is engaged in construction...

4. Addition u/s 68 - evidences about the receipt of the cash and repayment of the cash despite those persons having proper bank account - whole explanation of the assessee...

5. 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...

6. Addition made on account of unaccounted cash receipts – Cash receipts of brokerage – Sale of car parking charges - the assessee’s purchases cannot be doubted on ad-hoc basis - AT

7. Addition on account of cash found short u/s 68 and also holding that the same to be taxed u/s 115BBE - Cash short, at the most represents expenses / outgoings out of...

8. Undisclosed income - Search proceedings - receipt in cash - As assessee is not able to justify and/or connect these receipts / payments as are found mentioned in loose...

9. Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

10. Unexplained cash - It is difficult to comprehend that when the assessee was neither the partner nor the director nor the owner of the said company then how the cash can...

11. Penalty u/sec. 271(1)(c) - income disclosed in search action - Ex-parte order - The Tribunal observed that the assessee admitted to suppressed receipts, which were...

12. 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...

13. Addition u/s 69A - cash deposits during demonetization period - business of hiring of cars - A reasonable amount of cash deposits during demonetization period is out of...

14. Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

15. Unexplained cash payments - There is also no evidence to suggest that cash withdrawn from ETLL was unused and kept with the assessee idle though repeatedly withdrawals...