Home Highlights July 2014 Year 2014 This

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1. Addition u/s 68 - Unexplained cash credit - CIT(A) accepted the source of cash deposits without any supporting documents, the issue require detailed enquiry with regard...

2. Unexplained investment - The basis of addition made in the present case is the source of investment remaining unexplained. Now, the assessee having explained the source...

3. Power of CIT(A) in exercising power u/s 250(4) to accept remand report with regard to income as well as claim of expenditure made by assessee - if the Remand Report is...

4. Addition u/s 68 - AO is an Investigation Officer and if the assessee files some documents, it is within the investigation power of the AO to raise questions on those...

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

6. Unexplained cash credit u/s.68 - double taxation - taxing the source of investment and application of investment both - When an income is taxed / addition is made to...

7. Source of making donations - AO merely changed the head of income from ‘agricultural income’ to ‘income from other sources’. By changing the head of income alone, it...

8. First time importers, verification of documents - submission of KYC documents and procedure to be followed

9. Addition on income from unexplained sources u/s 68 - sham transaction - the nature of the income and source on the identical transaction have been accepted by the...

10. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

11. Addition u/s 68 - investment made by the partners - AO has examined 79 unsecured creditors who appeared before the AO and given statements on oath. All of them have...

12. Unexplained investment - Assessee has brought on record certain evidence before the AO - the Assessing Officer ought to have investigated from both the parties for...

13. Addition made by the AO by treating the agriculture income as income from other sources - The genuineness of the additional document filed by the assessee has nowhere...

14. Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep...

15. Income from hoarding whether income from business or income from other sources - income of Municipal Corporation - taxable as income from other sources and exempt u/s 10(20) - HC