Home Highlights April 2014 Year 2014 This

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1. Valuation of imported goods - the onus of proving charge of undervaluation lies on the Revenue which needs to be proved by way of producing necessary evidence - the...

2. Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of...

3. Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

4. Addition u/s 68 - unexplained cash credit - onus to prove - Agriculture income shown by the Partners of the firm - onus on the assessee has to be understood with...

5. Disallowance of depreciation on motor car - ownership - Merely disclosing an asset as its asset in its books of account will not be sufficient to prove the ownership....

6. Addition u/s 68 - unsecured loans - addition only on the basis of the information received from the Investigation Wing ignoring - the investing company has sufficient...

7. Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

8. TP Adjustment - existence of international transaction of AMP Expenses - the revenue has also substantially proved the onus of existence of international transaction...

9. Dishonour of Cheque - rebuttal the presumption - existence of legally enforceable debt or not - Facts is of two kinds. One is positive fact and another is negative fact....

10. Once the assessee has discharged the initial onus to prove that the deduction is allowable, the onus to prove that the deduction is not admissible, shifts to the tax...

11. Smuggling - Betel Nuts - foreign origin goods - town seizure - notified item or not - onus to prove - The CESTAT recognized that betel nuts were not notified items under...

12. Revision u/s 263 by CIT - On going through the entire order of the ld. CIT(A), other than the theoretical rhetoric, no iota of tangible material has been brought on...

13. Bogus transaction in the scrip - bogus LTCG - Onus to prove - Income generated by the assessee cannot be held bogus only on the basis of the modus operandi,...

14. The onus is upon the assessee to establish that the money was borrowed for the purpose of business - assessee failed to prove the onus - Claim of Interest disallowed - AT

15. Addition u/s 69 - unexplained investment made in purchase of land - no asset came into existence in the name of the assessee, which requires to be shown in the books of...