Home Highlights November 2013 Year 2013 This

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1. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

2. Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

3. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

4. Addition u/s 68 - addition on the basis of receipts in the ledgerised cash sheet - the addition made by the AO has led to double addition and the same nature of...

5. Assessment u/s 153A/143 - Difference between assessments under section 143(3) and 144 - Mention of nature of the order as section 153A r.w.s. 143(3) was not a technical...

6. Reopening of assessment u/s 147 - AO himself did not make addition in respect of the first part of the items of reason recorded - The addition made by the AO on the...

7. Validity of Assessment u/s 144C r.w.s 147 - eligible assessee - Non-Resident - Absence of an order u/s 92CA(3) - addition on account of unexplained cash deposits - Even...

8. Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...

9. Unexplained Income - addition u/s 68 - Receipt of share application money from group companies - group companies invest in each other - Double additions - In this case...

10. Disallowance of making charges - If the making charges rate as determined by the Revenue at Rs.3/- per gram has to be considered, the aforesaid karigar’s net profit...

11. Validity of TP order stating that the orders are passed u/s 92CA (3) - Period of limitation - 60 days period from 31/3/2015 expires on 29 January 2015. But the ld TPO...

12. Inflation in expenses or bogus/inflated purchases - Since, the printouts of the hard disc clearly mentioned that "forecast" and since, the Assessing Officer in the two...

13. Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible...

14. Disallowance of OBR (overburden removal expenses) - there is nothing on record to establish, or even suggest, that expenses incurred on removal of overburden at the...

15. 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...