Undisclosed investment u/s.69 - unaccounted payment on purchase ...

Income Tax

February 12, 2022

Undisclosed investment u/s.69 - unaccounted payment on purchase of impugned land - Recording of the statement by survey team under section 131(1) is not valid. Thus, no cognizance of such statement could be taken. Hence, the addition which is solely based on the stamen is not legally sustainable. - AT

View Source

← Previous Next →

Undisclosed investment u/s.69 - unaccounted payment on purchase ...

Income Tax

February 12, 2022

You may also like:

Addition u/s 69 - unless it is first established beyond doubt that there is an investment which is not recorded by the Assessee in its books, no occasion to explain...

Addition u/s 69 - Unexplained investment or not - only when the investment is not recorded in the books of accounts or the explanation by the assessee regarding the...

Unexplained investment u/s 69 - The tribunal closely examined the additions made under Section 69 related to unexplained investments in stock. The assessees argued that...

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...

Addition u/s 69 - The entire purchase of fixed assets has already been recorded by the assessee in its books of accounts. The source for making payments for such...

Undisclosed investment u/s 69 - it is not open to the Assessing Officer to draw inferences from the document by interpreting the words “Sh” to mean cash payment and “Q”...

Undisclosed Income - scope of statements recorded u/s 132(4) - admission of payment of Capitation Fee to the Engineering College does not mean ipso facto declaration of...

Undisclosed income - retraction of the statement - the assessee has been consistent in his statements so recorded even during the post search proceedings when his...

Unexplained investment u/s 69 - The documents, which were found in the possession of other person, does not bear the name of the assessee, that is, the name of the...

Unexplained money u/s 69A or investment u/s 69 - Once an AO finds that an investment has been made, he has to examine the Assessee's explanation as to the source of that...

Unexplained investment in fixed assets - assessee has inflated the value of machinery and office equipment - When the there is no actual investment of any kind by the...

Unexplained investment u/s 69 - Addition were made based on the retrieved data from CPU/Computer - source for above payments for agricultural lands have been explained...

Assessment of trust - Unaccounted fee receipts - reliance on statement recorded u/s 133A of Accountant of the Society - It is a settled law that statement recorded...

Addition u/s 69 - unexplained investment found in the form of loan given to a party which was not recorded in the books of account of the assessee and the explanation...

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...

Quick Updates: