Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2023 Year 2023 This

Unexplained investment - Unaccounted cash for purchase - ...

Income Tax

June 2, 2023

Unexplained investment - Unaccounted cash for purchase - addition based on the statement / admission of the third party - Mere admission of the third party cannot be a basis for making addition in the hands of the assessee without confronting the assessee about the incriminating material. - AT

View Source

 


 

You may also like:

  1. 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...

  2. Addition u/s 68 - unexplained cash credit - Onus to prove - The High court noted that the assessee had provided sufficient evidence, including bank statements, cash-flow...

  3. Unexplained cash credit u/s 68 - AO made addition of loan based on statement of a person who retract subsequently - it is the revenue which had placed reliance on the...

  4. Assessment u/s 153A - addition u/s 68 - unexplained cash deposited and unexplained loan - addition was not based on any incriminating material found during search - No...

  5. Addition on account of sale of scrap out of books - unexplained sale - in all the years assessee has been generated unaccounted cash from the scrap sales outside books,...

  6. Assessment u/s 153A - unexplained cash credit u/s 68 - addition based on statement - Such confessions have been retracted and then the addition could not withstand the...

  7. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

  8. Unexplained investment in purchase land - on-money payment - The addition is also not based on valuation of land by any registered valuer. The addition is also not based...

  9. 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...

  10. Addition u/s 68 - maturity proceeds of FDRs, alleging unexplained cash credits - In this regard, assessee submits a copy of the bank certificates issued by the Dena Bank...

  11. 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...

  12. Addition of excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The Tribunal observed that the assessee provided plausible...

  13. Addition of unexplained investments u/s 69B - alleged cash payment for purchase of land - alleged purchase value noted in the diary found in search - it does not contain...

  14. Undisclosed profit and unaccounted investment in undervalued goods - It was observed by the Tribunal that when the very basis on which the addition was made by the...

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

 

Quick Updates:Latest Updates