Home Highlights October 2013 Year 2013 This

You may also like:

1. Reopening of assessment u/s 147 - unexplained cash deposits - the deposit in the bank account per se cannot be income of the assessee. It is mere suspicion of the...

2. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...

3. 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...

4. Assessment of income from other sources u/s. 68 r.w.s. 115BBE - As assessments for assessment years 2011-12 to 2014-15 are unabated / completed. Further, no reference of...

5. Validity of reopening of assessment u/s 147 - addition of transactions in HSBC Bank - AO is not sure whether income has to be assessed in the hands of assessee or his...

6. Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

7. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

8. Income tax liability of employees - Remission of income tax liability borne on behalf of the employees - it is also possible that earlier years the assessee has not...

9. Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

10. Mere discovery of a foreign bank account in the name of the assessee is not sufficient to thrust the tax liability without bringing on record the chargeability of the...

11. Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

12. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

13. Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

14. Undisclosed income declared not to affect finality of completed assessments - THE INCOME DECLARATION SCHEME, 2016 - A declarant under this Scheme shall not be entitled,...

15. Income taxable in India - Offshore/foreign supplies - from assessment order for A.Y. 2016-17, it is evident that, the Assessing Officer had framed an assessment on 24.12....