Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Unexplained cash credit - sale of gold and jewellery belong to ...

Income Tax

December 16, 2013

Unexplained cash credit - sale of gold and jewellery belong to Mother - The assessee being only a facilitator for doing charity on behalf of her late mother, the deposits made in one bank account on account of sale of jewellery cannot be assessed as income of the assessee - AT

View Source

 


 

You may also like:

  1. Estimation of income on deficit gold jewellery - in search proceedings AO noted shortage of stock of gold ornaments - It is quite natural to give telescopic benefit to...

  2. Addition u/s 69A r.w.s. 115BBE - unexplained gold jewellery of 1627.5 Grams - Stree dhan of women - quantity of gold jewellery in excess as allowed by the CBDT circular...

  3. Unexplained cash payments - There is also no evidence to suggest that cash withdrawn from ETLL was unused and kept with the assessee idle though repeatedly withdrawals...

  4. Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

  5. Revision u/s 263 by CIT - cash payment made for purchase of old gold jewellery - Actually the assessee has not made any purchases in cash in alleged transactions and...

  6. Addition u/s 68 r.w.s.115BBE - unexplained cash deposits into bank account during demonetization period - Assessee has furnished name and address of the customers from...

  7. Unexplained investment in jewellery and silver articles - looking at the status of the family and the jewellery found during the search, it was held to be reasonable -...

  8. Addition u/s. 69A on account of unexplained jewellery - search & seizure - There is no logic for enhancing the quantity of gold by the weight of stones and diamonds....

  9. Unexplained cash credit u/s 68 - When the cash did not pass at any stage and since the respective parties did not receive cash nor did pay any cash, there was no real...

  10. Addition of unaccounted money u/s 69A - cash found during the course of search u/s 132 - the assessee all along claims that said cash belongs to his brother in law who...

  11. Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

  12. Excess jewellery found during the course of search - Jewellery belonging to family member (i.e sone and wife) or not? - person to whom said jewellery belongs - Excess...

  13. Addition u/s 68 - Unexplained cash credit - It is well settled principle that the repayment of cash credit would not prove the genuineness of cash credit. It is the...

  14. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

  15. Undisclosed sales - unexplained cash sales - it is the AO, who was required to establish whether those were the cash sales as claimed by him and not the fictitious sales...

 

Quick Updates:Latest Updates