Unexplained expenses u/s 69C - Cash Expenses incurred by the ...

Income Tax

September 26, 2022

Unexplained expenses u/s 69C - Cash Expenses incurred by the assessee - A fair estimation of disallowance of cash expenses needs to be done in this case. - disallowance of expenses @20% in respect of site and conveyance expenses would meet the ends of justice - AT

View Source

← Previous Next →

Unexplained expenses u/s 69C - Cash Expenses incurred by the ...

Income Tax

September 26, 2022

You may also like:

Unexplained expenditure u/s 69C - expenses incurred on marriage of daughter of assessee - Assessee has cash which was withdrawn on various dates from his bank account...

Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...

Disallowance u/s 37(1) - payments of expenditure by way of cash - Assessee has incurred 90% of expenses by way of cheque, meaning thereby, in case of business necessity...

Ad-hoc disallowances of the expenses - the expenses claimed for the purpose of the business cannot be disallowed merely on the reasoning that these expenses were...

Unexplained cash payments - There is also no evidence to suggest that cash withdrawn from ETLL was unused and kept with the assessee idle though repeatedly withdrawals...

Addition on account of cash found short u/s 68 and also holding that the same to be taxed u/s 115BBE - Cash short, at the most represents expenses / outgoings out of...

Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

Disallowance of tour and travel expenses - no details were forthcoming from the assessee to substantiate these travel and conveyance expenses and justify that these...

Addition u/s 69C - excess stock - 69B OR 69C - mentioning of wrong section would not upset the Additions made by the AO as all these provisions have been enacted with a...

Cash found during search from the residential premises of the appellant - Estimation of expenses is also without any basis. Hence the argument put forth by the CIT(A)...

Unexplained expenditure u/s 69C - once estimation of GP has been made on the unaccounted sales it covers unexplained expenditure also to this extent - AT

Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses...

Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

Addition of sales tools expenses u/s 37 - the logic given by the coordinate bench equally applies to the sales tool expenses also. The above decision was also followed...

Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

Quick Updates: