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 May 2024 Year 2024 This

Addition u/s 69 - Cash/credit deposit in the bank account - ...

Case Laws     Income Tax

May 16, 2024

Addition u/s 69 - Cash/credit deposit in the bank account - Assessment u/s 44AD - The ITAT supported the FAA’s enhancement of the addition. The assessee's failure to provide credible evidence for the cash deposits led to the conclusion that these were indeed unaccounted income. - The Tribunal agreed with the FAA's skepticism regarding the transactions with Krish Builders. The improbability of the alleged business activities, coupled with the lack of substantial evidence, justified the addition.

View Source

 


 

You may also like:

  1. 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...

  2. Addition u/s 68 v/s 69 - unexplained deposit in the bank account - sum was not credited in the books of accounts, but the amount was found credited in the bank account...

  3. Addition u/s.69 towards cash deposits in the bank account - determining the peak credit - where the peak is added, the investment made by the assessee has to be added...

  4. Addition on account of cash deposit in the bank account - It is not explained why assessee was making deposits in his bank account on different dates of different amount...

  5. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

  6. Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

  7. Addition u/s. 69/68 - Cash deposit in joint bank account - We are unable to comprehend as to how an addition can be made in the hands of assessee towards cash deposits...

  8. Addition u/s 68 - unexplained cash deposited in bank accounts - Bank account / statement as books - an addition made in respect of a cash deposit in the bank account of...

  9. Unexplained investment u/s 69 - cash deposit - the alleged transactions of cash deposits and corresponding entries of cheque issued were not in the nature of any...

  10. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

  11. Addition u/s 68 v/s 69 - bank statement or bank passbook cannot be considered to be the books of accounts maintained by the assessee. - As per section 68 of the Act,...

  12. Addition u/s 69 - cash deposited in the bank out of opening cash in hand - AO noticed that the assessee had raised loans and also withdrawn cash numerous times...

  13. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

  14. Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

  15. Assessment u/s 153A - Addition of cash deposits in bank account and savings bank account interest - The ITAT held that the additions related to cash deposits and savings...

 

Quick Updates:Latest Updates