Home Highlights June 2018 Year 2018 This

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1. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

2. Addition u/s 68 - credit of undisclosed income - it was declared before settlement commission that company has earned the undisclosed income and routed in books through...

3. Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

4. Estimation of income - additions towards unapproved creditors - once income is estimated, no additions can be made towards trade creditors which is arised out of such...

5. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

6. Addition of Undisclosed Income - Just because the statements u/s 132 (4) state that he paid Capitation Fee , it does not mean that it could result in an addition ipso...

7. Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

8. Addition of opening capital as unexplained investment u/s 69 - income from undisclosed sources - The Tribunal held that for such an addition to be justified, the...

9. Block assessment - Block period - Addition on account undisclosed investment based on diary of the assessee - The money so advanced will tantamount to be the investment...

10. Unexplained investments u/s 69- Tribunal deleted the addition - The term assessed being flexible, it bears very comprehensive meaning. Therefore, under Section 158BB of...

11. Undisclosed profit and unaccounted investment in undervalued goods - It was observed by the Tribunal that when the very basis on which the addition was made by the...

12. Penalty order u/s 271AAA - disclosure of additions income pursuant to search u/s 132 - In the present case the assessee has disclosed the entire source of income and...

13. Additions towards Credit card expenditure - when the income of the assessee has been taxed, he has the source of such expenditure available and therefore, making the...

14. Additions towards interest received from the firm on the capital deployed in the firm by the Partner - Since the assessee has already offered the income being the...

15. Addition towards undisclosed income being write back of redeemable non cumulative preference shares - write back of preference share capital cannot be taxed u/s 28(iv)...