Home Highlights December 2014 Year 2014 This

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1. Addition on account of Repair and Maintenance of Plant and Machinery on estimate basis - sale of scrap - The assessee brought on record a chart of sale made of scrap in...

2. Addition of payments made through credit card - payment was made by Company and recorded by Company in its books of account - when the assessee was consistently claiming...

3. Additions towards difference in the 26AS (TDS statement) and the books results - books of account of the assessee duly audited - We have noted that the audited books of...

4. Difference in cash as per cash book and physical cash - The assessee made up the cash book later on to present that there was no difference. However, nothing of this...

5. 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...

6. Addition on account of alleged on-money - Applicability of section 50C - The assessee has duly discharged the onus of proving that the sale consideration as actually...

7. Addition on difference between balance in account as per the books and the balance as per bank statement - cheques issued but not presented - addition can not be made...

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

9. Addition u/s. 41(1) - Difference between the amount payable as per books of accounts and amount as per the confirmation received from the creditor - The High Court...

10. Difference in rate of booking price - sale / booking of flats - different rates have been quoted/booked for the same area and the same project - On money paid by...

11. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

12. Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly...

13. 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...

14. Additions based on mismatch in annual information return - If the assessee can reconcile such difference and even otherwise satisfy the learned assessing officer, that...

15. Addition on protective basis u/s 69A - genuineness and ownership of fine gold - The seller confirmed to have made sale to the assessee vide tax invoice dated 26 October...