Cash deposits in bank account as unexplained cash deposits - ...

Income Tax

April 11, 2020

Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of accounts, hence, in such situation only net profit as per provisions of section 44AD is required to be estimated as net profit and not entire turnover or cash deposits reflected in the bank account. - AT

View Source

← Previous Next →

Cash deposits in bank account as unexplained cash deposits - ...

Income Tax

April 11, 2020

You may also like:

Unexplained cash deposits in Bank account - The explanation given by assessee cannot be simply rejected when he states that he encashed the traveler cheques and...

Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank...

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...

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

Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

Unexplained Cash deposited into Bank Accounts - income from unexplained source u/s 69B - Onus to prove - Onus cast on the Appellant has not been discharged.addition u/s...

Addition u/s 68 - unexplained cash deposited in bank accounts - Bank account / statement as books - an addition made in respect of a cash deposit in the bank account of...

Unexplained Cash withdrawn out of bank account - Gap between withdrawal and deposit of the cash - The heafty amount was withdrawn 70 days ago for utilising the same for...

Unexplained deposits in bank account - Amount deposited in the bank account was out of sale of various items as held by the assessee as stock in trade and since the...

Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

Addition on account of unexplained cash received from students and trainees - the cash deposited in the bank is fully accounted for and the addition made by the AO is ex-facie bad

Unexplained money u/s 69A - cash deposit in the Saving Bank Account - Since the assessee has not disclosed this bank account in the return of income, therefore, deposit...

Unexplained cash credit u/s 68 - unexplained cash deposit in the bank account during post-demonetization period - Even otherwise the ld. AO should have appreciated that...

Addition on account of cash deposits in personal saving bank account of the shareholder of the company - source of cash deposits are duly explained and same pertained to...

Unexplained cash deposits - In the light of the clear cut explanation which is duly supported by; firstly, the sale receipt of the assessee; and secondly, the amount...

Quick Updates: