Home Highlights November 2017 Year 2017 This

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1. Addition u/s 69 - CIT confirmed the additions by Changing the section to section 69C - Addition made by the AO u/s 69 of the Act cannot be converted into Sec. 69C of the...

2. Addition u/s 69 - unexplained investment made in purchase of plot - Transaction found during the survey was neither recorded in the books of account for the year nor any...

3. Addition u/s 69 of Illegal gratification paid by the assessee - said accusation against the Appellant was purely and solely based on the Shunglu Committee Report, FIR...

4. Addition towards Licence expenses - The invoice value was shown as its income and the amount paid to its AE was shown as Licence fee expenditure in its Annual accounts....

5. Additions u/s 69 - The payment of additional stamp duty may be on the basis of the valuation of the valuer of the stamp Act authority but same ipso facto cannot be said...

6. Disallowing the challan paid in the name of one employee & disallowing the subvend fee paid - CIT-A deleted the addition - as submitted assessee has obtained liquor vend...

7. Addition u/son 69/69(C) - The assessee never offered and/or claimed deduction as expenditure. Therefore, it is rightly observed by the learned Tribunal that there was no...

8. Addition in assessment u/s 153C - Addition u/s 69 - addition on basis of loose papers on which name of the appellant was mentioned along with some other parties - The...

9. Nature of expenses - apportioning the licence fee as partly revenue and partly capital - variable licence fee paid by the assessees under the New Telecom Policy, 1999 -...

10. In case of unaccounted turnover, only addition of profit embedded therein can be made - in such circumstances Assessing Officer cannot take resort to Section 69 of the Act.

11. Unexplained investment - Additions u/s 69 - source of purchase of party - AO having not discharged onus for proving the satisfaction of the condition for application of...

12. Unexplained investment u/s 69 - The tribunal closely examined the additions made under Section 69 related to unexplained investments in stock. The assessees argued that...

13. Addition u/s 69 - repayments of loan/creditor - The ITAT held that the loans were duly recorded in the books of accounts and repayments were made through banking...

14. Unexplained investment u/s 69 - wire transfer from NRE account - assessee is a non-resident - transfer from the account of the assessee’s son, who is also a resident of...

15. Unexplained investment/unexplained cash credit under section 68 & 69 - no addition is called for on account of baseless allegation of unexplained investment by the...