Home Highlights February 2015 Year 2015 This

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1. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

2. Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

3. Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in...

4. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

5. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

6. Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

7. Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

8. Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

9. Addition of bogus share application money u/s 68 - explanation to source of the source - with effect from assessment year 2013-14 section 68 of the Act has been amended...

10. Interest income - zero coupon money - interest earned by investing the surplus share money in bank deposits, such interest is taxable as income from other sources and...

11. Treatment of Share Application money as loans & Advances(269SS) - Penalty under 271D - Share application monies received by a company, pending allotment of shares, do...

12. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

13. Addition u/s 68 or 56 - Undisclosed income of unsecured loan - share application money receipt - the share application money was received in the financial year 2011-12 -...

14. Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

15. Addition u/s 68 - Unexplained share transactions - Consideration received other than cash - There are no details on facts as to what was the investment which was made by...