Home Highlights August 2012 Year 2012 This

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1. Addition on account of unaccounted receipts - When the assessee has asserted before the Assessing Officer that it has not received any such income, the Assessing Officer...

2. Unaccounted investment u/s 69 - Addition on account of suppressed purchase price of land purchased - Since the Assessing Officer failed to pinpoint any instance by...

3. Unexplained salary - search and seizure proceedings - The addition made by the Assessing Officer as relates to unaccounted salary does not sustain in the eyes of law as...

4. Addition made on account of deemed rent - unsold units (Flats) in the hands of builder at the year end - property is used as stock-in-trade - the deemed rent concept...

5. Additions based on mismatch in annual information return - If the assessee can reconcile such difference and even otherwise satisfy the learned assessing officer, that...

6. Revision u/s 263 by CIT - low income from liquor business - the books of account, which are duly audited and furnished before the Assessing Officer, were never rejected...

7. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

8. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

9. Addition on account of inflation of purchases - suppliers were not maintaining the stock register and their books of accounts were rejected at the time of assessment...

10. Addition of cash deposited during the demonetisation period in bank account - unexplained income - taxation @ 60% as provided u/s. 115BBE - The tribunal acknowledged the...

11. Deemed dividend addition u/s 2(22)(e) - Provisions of Section 2(22)(e) relating to loan or advance can be deemed as dividend only to the extent of accumulated profit or...

12. Addition u/s 68 - cash credit in the books of accounts - issue of shares warrant - As assessee has submitted the complete details before the assessing officer and...

13. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

14. Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

15. Addition u/s. 41(1) - Difference between the amount payable as per books of accounts and amount as per the confirmation received from the creditor - The High Court...