Home Highlights May 2013 Year 2013 This

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1. Unaccounted investment - Addition in the hands of the assessee on protective basis on account of expenses u/s. 69C - We find no infirmity in the order of learned...

2. Adhoc Addition on account of personal use of car, on account of tour and travelling expenses and on account of telephone expenses - When undisputedly assessee has...

3. Addition on protective basis on account of coal business carried out by the assessee through the syndicate of Bhutoria Group - addition made on protective basis cannot survive - HC

4. Addition u/s 69C - Low withdrawals for household expenses - AO did not point out any specific circumstances by which he assumed that assessee had made low withdrawals as...

5. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

6. Addition on protective basis - credits in the bank accounts of the assessee and foreign company - The separate addition made in the respective years on protective basis...

7. Addition u/s 69A on the ground of household expenses - no evidence prodced that any drawings made by wife of assessee for contribution to household expenses - addition...

8. Quantum of the household expenses - the assessee has not furnished any information qua to the household expenses. Thus there remains no alternate except to estimate the...

9. Protective assessment - Addition in the hands of the Assessee Firm on protective basis - since the substantive addition has not been survived on account of being time...

10. Assessment u/s 144 - estimation of income - Method of accounting - Non rejection of books of account - disallowance of expenses, addition of inflated purchases and...

11. Addition u/s 69A - Unexplained Cash - household expenses - It is pertinent to mention that in the cash flow the assessee has also shown household expenses for her...

12. Provision for future liabilities (expenses) - whether allowable - mercantile basis of accounting - held yes - HC

13. Addition u/s 69C - household withdrawals - contention of the assessee towards household expenses is not capable of acceptance. Addition confirmed - AT

14. TP Adjustment - AMP expenses by applying bright line test on protective basis - TP adjustment amounting by applying BLT is not sustainable on protective basis having no...

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