Home Highlights September 2014 Year 2014 This

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1. Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

2. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

3. Addition u/s 68 on account loan which was held as unexplained cash credit - once repayment of the loan has been established based on the documentary evidence, the credit...

4. Addition u/s 68 - unexplained Cash Credit - Though the transactions of the loan received by the assessee are not free from any doubt but in either of the case, once...

5. Unexplained cash deposits - Assessee is directed to establish all relevant details to substantiate its claim in line with the above applicable instructions. We are aware...

6. Unexplained cash credit u/s.68 - double taxation - taxing the source of investment and application of investment both - When an income is taxed / addition is made to...

7. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

8. Unexplained cash credit u/s 68 - When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real...

9. Unexplained investment - Primary onus - The assessee has deposited cash in its ICICI Bank account on various occasions, and onus is very heavy on assessee to explain...

10. Unexplained cash credit under section 68 - assessee has failed to establish the genuineness of the credits. - AT

11. Addition u/s 69A - cash balance on account of withdrawal from different bank accounts - The mere fact of holding cash for a longer period was not a sufficient ground for...

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 Unexplained cash payments - There is also no evidence to suggest that cash withdrawn from ETLL was unused and kept with the assessee idle though repeatedly withdrawals...

13. Refund claim - time limitation - validity of refund only to the service provider and not to the party being the service recipient - The appellants for the processing of...

14. Unexplained investment/unexplained cash credit under section 68 & 69 - no addition is called for on account of baseless allegation of unexplained investment by the...

15. Unexplained cash credit u/s 68 - bogus share capital/share premium - The tribunal noted that the appellant's company had witnessed significant growth over the years,...