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 May 2015 Year 2015 This

Addition u/s. 68 - AO cannot extrapolate 50 and interpret 50 as ...

Case Laws     Income Tax

May 22, 2015

Addition u/s. 68 - AO cannot extrapolate 50 and interpret 50 as 50,00,000, 575 as 575 lakhs without any corroborative/demonstrative evidence - additions made merely on the basis of some illogical and irrelevant entry/jotting on a piece of paper cannot justify the actions of the AO - AT

View Source

 


 

You may also like:

  1. Additions u/s 68 - Unexplained Cash credit found in the bank account - The provisions of s. 68 & 69 use the word may indicating discretion conferred upon the AO by the...

  2. Demand Interest u/s 201(1A) - Non deduction TDS u/s 194IA - As per the sale deed the details of the sellers / transferors of the said property and in fact the sellers...

  3. KVAT Act - demand of additional security f Rs.50,00,000/- - orders demanding additional security and registration cancelled set aside - matter remanded for fresh decision - HC

  4. Addition u/s 68 - cash deposits during demonetization period - trading in precious and semi precious Gem Stones - AO doubted the cash sales for the reason that the...

  5. TDS u/s 194IA - transfer of an immovable property - the amount as per sale deed is ₹ 1,50,00,000/- - Single purchase deed for four persons - in each case purchase...

  6. Addition of “cash credit” u/s 68 - It is very unlikely that a person carrying on small chitty and financing business could raise ₹ 2, 00, 000/- as advance for...

  7. 100% EOU - similar goods or not - when the permission granted to appellant has not listed any specific components of a turbo charger but instead has only indicated...

  8. Jurisdiction of Superintendent to pass the order - Monetary limit - The High Court noted that, the circular dated 9.2.2018 limited the power of the Superintendent,...

  9. TDS u/s 194C - Addition u/s 201/201(1A) - TDS not deducted from the payments made to contractors under various schemes - The proviso clearly states that nothing...

  10. Addition made u/s 69B – The five figures have been omitted by the assessee while preparing this paper and if five figures are added in the figure of 400 then it will...

  11. Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

  12. Penalty for cash loan/ transactions against primary co-operatives - Section 269SS / 269T - Relief given to Primary Agricultural Credit Societies (“PACS”) and Primary...

  13. CIR process - Petitioner and the Debtor entered into Power Purchase Agreement for supply of 20,00,000 units - since no agreement between the parties obligating the...

  14. Reopening of assessment - notice u/s 148 A(b) - if the provisions of Section 149(1)(b) of the Act of 1961 are considered, it is seen that only if the amount in question...

  15. Penalty u/s 114(i) - illegal activities with the tenants - tenant was using the property, which was rented out by the petitioner for storing turtles and tortoises. - It...

 

Quick Updates:Latest Updates