Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2011 Year 2011 This

Addition on the basis of stock statement submitted to bank - f ...

Income Tax

November 3, 2011

Addition on the basis of stock statement submitted to bank - f the assessee is able to show that the statement was given only on estimate basis and value reflected in the books of account was correct, there is no absolute bar to such explanation being accepted .... - HC

View Source

 


 

You may also like:

  1. Addition u/s 69B on account of difference in stock statement given to the Bank - the stock statement tally with the stock statement submitted to the bank at the end of...

  2. Difference in stock submitted to bank and income tax department -addition based on stock statement submitted to Bank is not sustainable - AT

  3. Addition on the basis of inflated stock statement submitted to bank - Addition under Section 69B - additions not permissible - HC

  4. Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

  5. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

  6. Addition u/s 69/115BBE - unexplained money on the basis of difference in stock statement submitted to the lender bank - When no defect is found with the accounts of the...

  7. Addition on account of excess stock - difference in stock statement submitted with bank and as per books of accounts - No additions

  8. Difference in value of stock as per stock statement submitted to bank and stocks as per books - additions deleted - HC

  9. Additions u/s 69B - stock statement submitted to the banks cannot be considered as true and correct - no additions could be made - AT

  10. Addition on account of loss of sales of stock - assessee did not submit any stock statement and the bank considered the stock of the company as Nil - The expert has...

  11. Addition of excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The Tribunal observed that the assessee provided plausible...

  12. 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...

  13. Valuation of stock – discrepancy between stock statements filed in Bank and stock shown in books of accounts - The assessee's income is to be assessed not on the basis...

  14. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

  15. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

 

Quick Updates:Latest Updates