Home Highlights February 2013 Year 2013 This

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1. Additions u/s 69 - The payment of additional stamp duty may be on the basis of the valuation of the valuer of the stamp Act authority but same ipso facto cannot be said...

2. 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...

3. Unexplained investment/unexplained cash credit under section 68 & 69 - no addition is called for on account of baseless allegation of unexplained investment by the...

4. 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...

5. 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...

6. Unexplained investment u/s. 69 - Asstt. Comm. of Commercial Taxes estimated the valuation of WIP without mentioning the quantity or rate of the individual item - AO...

7. Unexplained investment u/s 69 - The aspect that this income was not declared in the original return of income cannot be a ground to automatically conclude that it is...

8. Unexplained investment u/s 69 - wire transfer from NRE account - assessee is a non-resident - transfer from the account of the assessee’s son, who is also a resident of...

9. Addition u/s 69C - unexplained expenditure - Since the assessee purchased the stamp and made the payment through RTGS then there is no question of considering the same...

10. Unexplained investment u/s. 69 - DDIT (Inv.) could not have referred the question of cost of construction/valuation of the assessee’s building to the Valuation Officer...

11. Addition u/s 56(2)(vii) r.w.s. 69 - difference between the purchase price i.e. circle rate/stamp duty value and the value determined by the DVO - This section can be...

12. Unexplained investment u/s 69 - Amount advanced by M/s. KSR Constructions to the assessee has to be construed as the amount given by M/s. KSR Constructions on behalf of...

13. 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...

14. 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...

15. Assessment of trust - unexplained investment - Merely because the building was used by assessee-trust without consideration that cannot be said to be, in any way, any...