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 August 2015 Year 2015 This

Once all the sales have been made through banking channel, i.e., ...

Case Laws     Income Tax

August 5, 2015

Once all the sales have been made through banking channel, i.e., through account payee cheques and there is no specific inquiry by the AO to rebut the assessee’s explanation, then no addition on account of differential sale price and variation in the profit margin can be made - AT

View Source

 


 

You may also like:

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

  2. 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...

  3. 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...

  4. Dishonor of cheque - jurisdiction - where a cheque is delivered for collection at any branch of the bank of payee or holder in due course, then, the cheque shall be...

  5. Addition u/s 40A(3) - Payments made otherwise than by an account payee cheque - It is admitted case of assessee that to one of the parties even payments were made by...

  6. Dishonor of Cheque - drawer of cheque - Vicarious liability - From the bare reading of Section 138 of the N.I. Act, it transpires that the liability of the drawer of the...

  7. Dishonor of Cheque - The accused account is at Vijaya Bank and the accused Bank has given endorsement of memo directly to the Manager of the complainant's Bank i.e.,...

  8. Amendment of section 50C - stamp value - where the date of the agreement fixing the amount of consideration and the date of registration for the transfer of the capital...

  9. Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the...

  10. The repayment was made, by debit entires - The provisions of Section 269-T providing for deposits to be made over and above Rs. 20,000/- only by account payee cheque or...

  11. Dishonor of Cheque - Accused took a specific defence that the cheque in question was obtained by the complainant by exercising force and that the same was a blank cheque....

  12. Revision u/s 263 - the AO also mentioned in the order that “The Documents as submitted by the assessee were examined and placed on record”, however no remark on the...

  13. Penalty u/s 271D - loan in cash otherwise than an account payee cheque or draft - Assessee has placed on record only the ledger account, from that it is not clear...

  14. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

  15. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

 

Quick Updates:Latest Updates