Home Highlights August 2015 Year 2015 This

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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. Long Term Capital Gain from sale of land - valid transfer of a capital asset or not? - Possession given or not? - The assessee placed reliance on the “Affidavit” of...

3. Revision u/s 263 - source of cash deposited in the Bank account - There is a direct nexus between the transaction of sale and the cash deposited in the bank account of...

4. 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...

5. Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

6. 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...

7. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

8. Unexplained deposits in cash in bank - assessee's father was the owner of agriculture land and the said cash was deposited partly out proceeds from sale of agriculture...

9. Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

10. Addition u/s 69 - amount received as advance / earnest money for sale of land which was deposited in the bank - The documents appeared to have been prepared by the...

11. Revision u/s 263 - Scope of the affidavit relief upon by the AO - It is not self serving affidavit of the assessee but of concerned party from whom allegedly the...

12. Additions towards amount lying in bank account as unexplained money - the assessee right from beginning has made it very clear that the bank account belongs to his...

13. Unexplained cash deposited in the bank account - source of receipt - sale of agriculture produce to non-existing firm - The assessee has supported the closure of the...

14. Unexplained cash deposits in Bank account - The explanation given by assessee cannot be simply rejected when he states that he encashed the traveler cheques and...

15. Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank...