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Income Tax - Highlights / Catch Notes

Home Highlights May 2015 Year 2015 This

If the Assessing Officer has raised same issue it has not made ...

Income Tax

May 13, 2015

If the Assessing Officer has raised same issue it has not made any addition then the CIT(A) cannot picked up this issue making further disallowance and enhancement without adopting due opportunity of hearing of the assessee by simply holding that no details or evidence have been filed. - AT

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  2. The admission made by the assessee before the assessing officer corroborated by the title deeds seized in search absolves the department from discharging any burden...

  3. Addition u/s 68 - Simply because the directors/shareholders did not present themselves before the Assessing Officer, an addition u/s 68 cannot be made.

  4. Additions made u/s 69C - unexplained expenditure – Whether the Assessing Officer had acted on conjectures and surmises – Held no, additions confirmed - HC

  5. Scope of limited scrutiny - cash deposits in the Bank accounts being more than the turnover - The impugned addition made by the AO on account of profit allegedly earned...

  6. In case of unaccounted turnover, only addition of profit embedded therein can be made - in such circumstances Assessing Officer cannot take resort to Section 69 of the Act.

  7. Assessing Officer was right in making additions towards difference in turnover as per books of account and TDS certificates - AT

  8. Tribunal has erred in law in upholding the deletion of the additions made by the Assessing Officer on the basis of the notebook and the Bank passbook - HC

  9. Additions u/s 68 - Once the receipt of deposits from the depositors is held to be genuine, the consequent disallownace of interest made by the Assessing Officer would...

  10. Once the assessee failed in explaining the share capital and unsecured loans received, there was no option before the Assessing Officer except making addition - AT

 

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