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 January 2016 Year 2016 This

Unexplained money - in cases where unaccounted entries are found ...

Income Tax

January 30, 2016

Unexplained money - in cases where unaccounted entries are found recorded in the books or documents seized, section 69A cannot be invoked. This provision can be invoked only when unaccounted cash, bullion, jewellery or any other valuable article or thing is found during search or otherwise - AT

View Source

 


 

You may also like:

  1. Unaccounted investment recorded in the seized document - No registered document whatsoever was found during the course of search, - No summons were issued to...

  2. Addition for the lesser cash in hand found as compared with the books of account - applicability of section 68 or 69A - it was not a case where money is not recorded in...

  3. Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

  4. Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

  5. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

  6. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

  7. Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

  8. Addition u/s 69B - On-money payment in cash - Unless something is brought on record or AO conducts inquiry that the said person in whose possession it was found has...

  9. Rejection of books of account u/s.145 is justifiable as two diaries in which unaccounted payments to the partner and unaccounted expenses recorded, were found - AT

  10. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

  11. The ITAT Delhi addressed an addition u/s 41(1) converted from u/s 68, focusing on whether there was actual receipt of money or just journal entries for account...

  12. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

  13. Addition u/s 69B - Cash transactions in the seized documents during a search operation - cash against sale of flat - When no material has been found that assessee has...

  14. Exemption u/s 11 - allegation of accommodation entry in the garb of corpus donation - There is no legal admissible evidence on record against the assessee that assessee...

  15. Addition u/s 68 - entry in the books of purchaser regarding cash payment - there is nothing on record which corroborates the fact that any such unaccounted money flowed...

 

Quick Updates:Latest Updates