Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

PRINCIPAL COMMISSIONER OF INCOME TAX-2 Versus Versus M/s HIRAL PHARMA LTD.

2016 (10) TMI 366 - GUJARAT HIGH COURT

Addition made on account of unexplained cash credit /s 68 - failure to prove creditworthiness of the creditor - Held that:- The question pertains to an amount of ₹ 6.85 lacs, which the assessee claim, to have received by way of loan from one M/ .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ilon Exports in favour of the assessee in January 1997 for the said sum of ₹ 6.85 lacs. On the same day, the amount was transferred to the account of the assessee which was also reflected in the assessee's bank statement. Commissioner of Income .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Merely because bank has gone in liquidation would not be sufficient reason to doubt the bank transaction in support of which, there was ample other evidence produced by the assessee. - Decided in favour of assessee. - TAX APPEAL No. 586 of 2016 - Da .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

uestion for our consideration. Whether the Appellate Tribunal has substantially erred in deleting the addition made on account of unexplained cash credit /s 68 of the Act, when as per the AO, the assessee failed to prove creditworthiness of the credi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

M/s.Pepilon Exports. After one round of remand, the assessee produced necessary documents such as the bank statement of Sarvoday cooperative bank of M/s.Pepilon Exports as well as that of the assessee. It was noticed that a cheque was issued by M/s.P .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version