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 July 2023 Year 2023 This

Addition u/s 68 - accommodation entry receipts - The investors ...

Income Tax

July 27, 2023

Addition u/s 68 - accommodation entry receipts - The investors are corporate entities duly assessed to tax and have made investment through banking channel from their own sources which fact has neither been denied nor rebutted in the assessment nor by the first appellate authority. This is also evident from the chart exhibited elsewhere. - CIT(A) rightly deleted the additions - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - bogus LTCG - share capital and share premium were merely paper credit entries - receipt of accommodation entries in lieu of commission paid - The...

  2. Addition u/s 68 - accommodation entry - additions made on the basis of retracted statements - amount received during the earlier years - assessee has furnished all the...

  3. Addition u/s 68 - bogus share capital and share premium - The financial statements, Annual Reports as well as bank statements of the all the investors was made available...

  4. Addition under Section 68 - Accommodation entries - the addition under Section 68 cannot be made in the case of the conduit companies. - AT

  5. Addition u/s 68 - accommodation entries receipts - onus to prove - The tribunal held that, when an assessee provides all necessary documents and no adverse findings are...

  6. Addition u/s 68 - Addition on account of joint venture agreement - the addition made u/s. 68 of the Act only on the basis of two statements which could not stand the...

  7. Protective addition on account of unexplained credit entries appearing in the bank account - assessee company is a conduit - addition on account of unaccounted...

  8. Addition u/s 68 - unexplained cash credit - even if the creditworthiness of the investors is not proved, even then it will not automatically give license to the AO to...

  9. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

  10. Addition u/s 68 - assessee has substantiated the transaction regarding share application money received by it was genuine transaction and the same were not accommodation...

  11. Addition u/s 68 - non independent application of mind - accommodation entries - share application money - Mere non production of Director of said share holder company...

  12. Addition u/s. 68 - satisfaction regarding the identity and creditworthiness of the 13 investors who have invested in the share capital of the assessee company and the...

  13. Addition u/s 68 - Bogus share transactions - accommodation entries receipt - all these shares in the preceding as well as in the current year were purchased from various...

  14. Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

  15. Additions u/s 68 - As assessee’s director has confessed that assessee company is providing accommodation entries, then, CIT(A) even did not care to verify that who are...

 

Quick Updates:Latest Updates