Home Highlights August 2012 Year 2012 This

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1. Addition u/s 69C - Low withdrawals for household expenses - AO did not point out any specific circumstances by which he assumed that assessee had made low withdrawals as...

2. Addition u/s 69C – addition on the ground that assessee deducted TDS on higher value and issued TDS certificate for higher amount - assessee explained the reasons - no...

3. Addition u/s 69A on the ground of household expenses - no evidence prodced that any drawings made by wife of assessee for contribution to household expenses - addition...

4. 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.

5. Addition u/s 69C - CIT(A) deleted the addition - in order to invoke the provisions of sec. 69C, should give a categorical finding that the assessee has incurred any...

6. Addition u/s 68 - Cash deposited in Bank - Assessee re-circulated those moneys by way of deposits, withdrawals and redeposits in the Bank A/c from time to time and the...

7. Additions towards Unsecured loans and interest paid thereon u/s 68 & 69C - in respect of interest paid, TDS was deducted u/s 194A - in respect of payment of interest to...

8. Addition on account of household withdrawal – assumptions and presumptions - The presumption made by the AO and estimation made was very much realistic - AT

9. Addition u/s 69A - Unexplained Cash - household expenses - It is pertinent to mention that in the cash flow the assessee has also shown household expenses for her...

10. 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...

11. Additions towards Undisclosed profit made on the basis of the seized documents - ITAT deleted the additions - Now, look at the reasons given by the tribunal. It cast a...

12. Additions towards VAT component of unaccounted sales - Since, the net profit of the assessee has been estimated on total turnover, there is no need for separate...

13. Addition u/s.69C - unexplained expenditure - Admittedly, in the first round of proceedings, there was no addition made u/s. 69C by the revenue. AO could not have made...

14. 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...

15. Additions u/s 69 - assessee’s father has purchased site in assessee’s name and also the assessee’s father has invested towards construction of property, the A.O. was...