Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Validity of o Ex parte scrutiny assessment order...     TaxTMI    Transfer of Jurisdiction u/s 127 - File were...     TaxTMI    Cancellation of registration of petitioner - The...     TaxTMI    Time Limitation - Rejection of appeal filed by the...     TaxTMI    Seeking certified copy of the order in original -...     TaxTMI    Validity of assessment order and bank attachment...     TaxTMI    Validity of assessment order u/s 74 - The order...     TaxTMI    Whether the legal services provided by lawyers are...     TaxTMI    Seeking grant of bail - Legality of arrest without...     TaxTMI    Rejection of appeal filed by the petitioner - time...     TaxTMI    Imposition of tax and penalty u/s 129(3) - e-way...     TaxTMI    The High Court upheld the levy of tax and penalty...     TaxTMI    DGFT makes amendments in Para 2.31 of the Foreign...     TaxTMI    The public notice issued by the Commissioner of...     TaxTMI    The circular issued by SEBI, provides flexibility...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2013 Year 2013 This

Addition of surplus realised on sale of jewellery - The excess ...

Income Tax

January 7, 2013

Addition of surplus realised on sale of jewellery - The excess amount on sale of jewellery has neither accrued nor has been received by the bank as its income u/s. 5 of the I.T. Act. It continues to be an ascertained liability of the bank to be returned to the owner. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Addition of surplus amount received by the assessee from jewellery auction - claimed to be returnable to the concerned borrowers - CIT has rightly deleted the addition...

  2. Addition u/s 69A r.w.s. 115BBE - unexplained gold jewellery of 1627.5 Grams - Stree dhan of women - quantity of gold jewellery in excess as allowed by the CBDT circular...

  3. Excess jewellery found during the course of search - Jewellery belonging to family member (i.e sone and wife) or not? - person to whom said jewellery belongs - Excess...

  4. Unexplained investment u/s 69 - Addition on account of jewellery (Gold Jewellery and Silver Jewellery) found from the residence as well as bank locker of the assessee...

  5. Unexplained investment u/s 69 - Addition on account of jewellery (Gold Jewellery and Silver Jewellery) found from the residence as well as bank locker of the assessee...

  6. Trade surplus on sale of jewellery - The amount is reflected in the account for long time over number of years as trade surplus amount it has to be considered as income...

  7. Addition on account of notional increase in employee’s cost - surplus in planned assets - As the employee cost was reduced in the Profit & Loss Account, the said amount...

  8. Assessment u/s 153A - excess jewellery found in the residence of the assessee during the search - all the family members are income tax payee and are filing their...

  9. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

  10. Unexplained cash credit in the bank account u/s 68 - Addition on excess sales - there cannot be such abnormal jump in the sale all of sudden. - To avoid the possibility...

  11. Additions u/s 68 - Bogus sales - purchase of sewelleng without PAN - Taking full address and PAN of the customers who have purchased the jewellery below 2 lakhs is not...

  12. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  13. Addition to excess stock of gold jewellery - proof of purchased pure gold - bill produced for conversion of pure gold into jewellery - no enquiry of department to find...

  14. Addition towards single premium paid on policy taken for the Director by the Company - Determination of sum of addition - Gross amount or Net amount of premium -...

  15. Liability for payment of customs duty on sale of excess liquor from the duty-free shop

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
A: SHARE APPLICATION MONEY DOES NOT AMOUNT TO ‘LOAN’ OR ‘DEPOSIT’
A: Navigating the Udyam Registration Portal: A User’s Guide
A: Supreme Court to examine whether supplying crane for loading, unloadin...
A: Writ Petition against Assessment Order not maintainable when remedy of...
F: RECOVERING GST PAID AT HIGHER RATE
F: Whether Registration Required in Another State
H: CESTAT Chandigarh: Appeals by Revenue below Rs.50 lakhs limit not main...
H: ITAT Indore grants registration u/s 12AB to assessee for charitable ac...
H: Accused convicted u/s 138 N.I. Act for dishonour of cheque. Even a bla...
H: SC: Arrest provisions u/s PMLA & u/r UAPA. Grounds of arrest must be c...
H: Penalty u/s 271(1)(c) - ITAT: Assessee aware of reasons for penalty. N...
H: ITAT Hyderabad upheld Corporate Guarantee Commission at 0.53% for fore...
H: Collector (Stamp) lacks power to recall order u/s 47-A of Indian Stamp...
H: RBI issues new Directions u/s 10(4) & 11(1) of FEMA for Margin in Deri...
H: SEBI issues Master Circular for Alternative Investment Funds incorpora...
H: Relaxation of additional fees & extension of last date for filing Form...
H: Amendments to Duty Drawback Rates effective from 03.05.2024. Enhanced ...
H: SEBI mandates standardized half-yearly reporting for Investment Advise...
H: Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI...
H: Duty Drawback not disbursed in some cases due to unvalidated Bank deta...
H: Refunds of IGST on exports delayed due to SB005 error. Exporters must ...
F: GST on transfer of partnership share in LLP
F: SERVICE TAX ON COLD STORAGE F Y 16.17 AND 17.18
F: Partner Remuneration
C: Disposal of Unmanned Aircraft Systems (UAS)/Unmanned Aerial Vehicles S...
N: Exemption from specified income U/s 10(46) – ‘Tamil Nadu Water Supply ...
N: Amendment of Notification No. 03/GST-2, dated 24.01.2024 (To extend th...
N: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold ...
A: Harnessing Artificial Intelligence for Analytics in Small and Medium-S...
A: No denial of ITC merely because the supplier failed to file returns an...