Home Highlights March 2014 Year 2014 This

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1. Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to...

2. Addition u/s 68 as accommodation entries - long term capital gain on sale of shares as sham/bogus transaction - Mere suspicion cannot be a ground for treating the...

3. Reopening of assessment - legality of issuance of notice u/s. 148 - Merely on a study by Investigation Wing ,as in this case explaining the general modus operandi...

4. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

5. Addition u/s 69A r.w.s 115BBE - unexplained gold jewellery found at the time of search - the assessee cannot be asked to explain the bank transactions of an unrelated...

6. Addition made being Specified Bank Notes deposited in the bank account of the assessee - whether the assessee had sufficient cash balance in its books for making the...

7. Addition based on foreign HSBC bank accounts - information received from French Government under DTAA - no material or evidence to say that the assessee was connected...

8. Confiscation of goods u/s 111 - Freezing of bank account - Smuggling of goods - appellant has failed to explain the source of the imported goods sale proceeds whereof...

9. Seeking lifting of attachment on Bank Accounts of Directors - recovery of dues of the company, while the bank accounts of Directors were attached - The attachment on the...

10. Addition on protective basis u/s. 69A - The loan was received from normal banking channel as evident from the bank statement there was no cash deposited in the account...

11. Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

12. Addition u/s 68 - Bogus unsecured loan - The assessee no doubt has produced bank statement/confirmation of the entities from which the money found its place in the bank...

13. Misuse of the power - Jurisdiction of GST officer for attaching and withdrawing amount from bank account of the assessee - The concerned officer who instructed the bank...

14. Penalty u/s 271A - violation of provisions of section 44AA - non-maintenance of books of accounts - Though the total income of the assessee was assessed by the AO as per...

15. Provisional attachment of Bank Accounts - time period of one year is over - as contemplated in section 83 of the CGST Act, the provisional attachment of the seven bank...