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 September 2019 Year 2019 This

Assessee firm converted into Private Limited Company - Addition ...

Income Tax

September 27, 2019

Assessee firm converted into Private Limited Company - Addition on account of Sales Tax refund - Since the assessee firm exist in assessment year under appeal and also declared business income in assessment year under appeal, there was no reason to show the impugned amount as income of Private Limited Company.

View Source

 


 

You may also like:

  1. IT - Family arrangement by a deed – The sale proceeds earned by the assessee out of sale of shares held in private limited companies cannot be treated as the income of...

  2. Scope of limited scrutiny - cash deposits in the Bank accounts being more than the turnover - The impugned addition made by the AO on account of profit allegedly earned...

  3. Recovery of tax dues of the Company from Directors - Applicability of section 179 to public limited company - In the light of the language in which Section 179 of IT Act...

  4. Valuation - related party transaction - sister concerns - Only on the basis of natural relationship between the partner of a partnership firm and Director of private...

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

  6. Depreciation u/s 32 - conversion of partnership firm into private limited company - assessee is entitled to depreciation on the enhanced cost at which the assessee has...

  7. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

  8. Recovery of tax dues from the Directors of the a Company - The show cause notice issued to the Directors of the Private Limited Company must indicate briefly the steps...

  9. Addition on account of Repair and Maintenance of Plant and Machinery on estimate basis - sale of scrap - The assessee brought on record a chart of sale made of scrap in...

  10. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

  11. Unexplained Money u/s 69A r.w.s. 115BBE - Cash withdrawal from the firm as partner of the firm - along with confirmation letter given by the firm, assessee has also...

  12. TDS credit - refund of TDS reflected in his Form-26AS - tax liability was created against the firm but crediting in the account of partner / individual - no dispute that...

  13. 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...

  14. SSI exemption - interconnected units - The constitution of the two firms are different. DMGP is a Private Limited Company whereas DDIL is a Limited Company and hence...

  15. Disallowance u/s. 2(22)(e) - assessee has received unsecured loan and assessee company from whom it has obtained unsecured loan there were two common directors - Since...

 

Quick Updates:Latest Updates