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Income Tax - Highlights / Catch Notes

Home Highlights November 2011 Year 2011 This

Addition on the basis of stock statement submitted to bank - f ...

Income Tax

November 3, 2011

Addition on the basis of stock statement submitted to bank - f the assessee is able to show that the statement was given only on estimate basis and value reflected in the books of account was correct, there is no absolute bar to such explanation being accepted .... - HC

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  1. Addition on the basis of inflated stock statement submitted to bank - Addition under Section 69B - additions not permissible - HC

  2. Difference in stock submitted to bank and income tax department -addition based on stock statement submitted to Bank is not sustainable - AT

  3. Addition u/s 69B on account of difference in stock statement given to the Bank - the stock statement tally with the stock statement submitted to the bank at the end of...

  4. Addition on account of excess stock - difference in stock statement submitted with bank and as per books of accounts - No additions

  5. Difference in value of stock as per stock statement submitted to bank and stocks as per books - additions deleted - HC

  6. Additions u/s 69B - stock statement submitted to the banks cannot be considered as true and correct - no additions could be made - AT

  7. Tribunal was right in law in deleting the addition made on account of difference in stock statement as furnished before the bank as compared to shown in books of account - HC

  8. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

  9. Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

  10. Addition u/s 69/115BBE - unexplained money on the basis of difference in stock statement submitted to the lender bank - When no defect is found with the accounts of the...

 

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