Home Highlights April 2014 Year 2014 This

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1. 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

2. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

3. Assessment u/s 153A - Unaccounted income on account of under invoicing of sales - Admissions made under such circumstances without the corroborative evidence cannot be...

4. 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...

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

6. Unexplained cash credit u/s 68 r.w.s 115BBE - inflated sales pursuant to demonetization - Unaccounted Stock Due to Valuation Differences - The Tribunal held that the...

7. Classification of supply - bundled service or not - right to use of car/two wheeler vehicle parking space along with the sale of under constructed apartments - it is...

8. Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

9. Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

10. Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

11. Assessment u/s 153A - Undisclosed cash receipts - merely because some discrepancies were found in assessee’s books in the pre-search period of unaccounted sales, it...

12. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

13. Addition u/s 68 r.w.s 115BBE - As cash receipts represent the sales which the assessee has rightly offered for taxation. We have gone through the trading account and...

14. Cash deposits made post demonetization represented unaccounted income of the assessee qua AY 2017-2018 - Having regard to the extensive material which has been examined...

15. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted