Additions on the account of cash flow statement furnished by the ...

Assessing Officer Questions Cash Flow Balances; No Additions Made Due to Lack of Incriminating Evidence Found in Search.

September 16, 2013

Case Laws Income Tax AT

Additions on the account of cash flow statement furnished by the assessee – AO doubted about only opening balances - when no incriminating documents or other material was found during the course of search, no addition - AT

View Source

← Previous Next →

Additions on the account of cash flow statement furnished by the ...

Assessing Officer Questions Cash Flow Balances; No Additions Made Due to Lack of Incriminating Evidence Found in Search.

September 16, 2013

Case Laws Income Tax AT

You may also like:

Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

Revision u/s 263 - assessee has made purchases in cash - when the learned assessing officer was not required to enquire on those issues such as purchases in cash more...

ITAT overturned multiple additions made by AO regarding property transactions and unexplained cash receipts. On capital gains computation under s.50C, ITAT directed...

Addition of cash deposited during the demonetisation period in bank account - unexplained income - taxation @ 60% as provided u/s. 115BBE - The tribunal acknowledged the...

Additions against Cash deposits made during demonetization period in specified bank notes - assessee has been consistently holding huge cash balance which meets the...

Cash deposits made during demonetization period from cash withdrawals and rental income received in cash were substantiated through cash flow statements and bank...

Unexplained cash credit addition u/s 68 during demonetization period - assessee unable to substantiate contentions regarding cash receipts from sales and debt recoveries...

Addition u/s 68 or 56(2) - Unexplained cash credit u/s 68 - share transactions - the valuation aspect of the shares is made on the Discounted cash flow method (DCF) and...

The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

The ITAT decided in favor of the assessee, a doctor residing in the United Kingdom. The unexplained cash deposits in the assessee's Indian bank account during the...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

In a limited scrutiny assessment under CASS, the Assessing Officer made additions to the assessee's income on account of cash deposits, excess closing cash balance over...

Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Addition u/s 68 - availability of source and application of fund - Cash in hand - AO ought to have made cash flow statement with opening cash balance, deposit and...

Quick Updates: