Addition u/s 69A - In the statement recorded u/s. 131 assessee ...

Income Tax

March 21, 2023

Addition u/s 69A - In the statement recorded u/s. 131 assessee stated that he has not filed his return of income and also stated that the money found in his possession belongs to him but could not give the details of the sources for the same - AO has rightly considered the issue of submission of books of accounts as an afterthought of the assessee and hence we do not find any reason to interfere in the decision - AT

View Source

← Previous Next →

Addition u/s 69A - In the statement recorded u/s. 131 assessee ...

Income Tax

March 21, 2023

You may also like:

Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

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

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Assessment us 153A - Statement of assessee alone cannot be the basis for making any estimated additions against the assessee. May be the assessee has retracted from the...

Deduction u/s 80P - Failure to file Tax Audit Report - assessee did not submit the audit report as per section 63 of the Karnataka State Co-operative Society Act, 1959 -...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Addition u/s 69A - Addition based on assessee's statement recorded u/s 132(4) - Even there is no question which has been raised to the assessee as part of his statement...

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...

Penalty levied u/s 271F - assessee had failed to furnish return of income within due date - from the submission of assessee, we find that the assessee has a reasonable...

Addition u/s 68 - disclosure made by the assessee on the basis of documents impounded during the course of survey proceedings - The Tribunal deleted the addition holding...

Non-est return of income - Assessee had never applied for PAN, the return of income was not verified and the return being not filed by the Assessee stand established and...

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Foreign Tax Credit (FTC) under Article 24(2) of the India-UK DTAA read with Section 90 - As the assessee has filed original return of income before the due date of...

Addition u/s 69A - cash loans given by the assessee as unexplained - decoding of the entries in the seized materials - The tribunal found that the assessing officer's...

Quick Updates: