Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Unaccounted investment - addition u/s 69B deleted by CIT(A) - ...

Income Tax

August 6, 2015

Unaccounted investment - addition u/s 69B deleted by CIT(A) - it is reasonable to accept that the assessee may be having some cash as personal savings and he accepted this claim to the extent of ₹ 80,000/-. - the amount of personal cash accepted by CIT (A) is not excessive - AT

View Source

 


 

You may also like:

  1. Addition on account of cash found short u/s 68 and also holding that the same to be taxed u/s 115BBE - Cash short, at the most represents expenses / outgoings out of...

  2. Addition u/s 68 on account of cash deposited in banks post demonetization - disclosure under PMGKY - revenue accepted the revised disclosure made by the managing...

  3. Valuation - consideration of self supervision factor which lead to less value - Addition made on account of unexplained investment in cost of construction of building u/s.69B - AT

  4. Penalty u/s 271D - accepting loan in cash - reasonable cause - the AO has neither doubted the impugned transaction nor any addition made in this behalf even under...

  5. Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

  6. Exemption u/s. 11 - Addition u/s 69A and 69B - With respect to the applicability of Section 69B of the Act, we find that assessee has given self-help loan to the members...

  7. Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the...

  8. Disallowance qua interest free advances - CIT(A) deleted the part addition - CIT(A) has accepted assessee's oral submissions which are not based on any material on...

  9. Addition u/s 69A - unexplained investment in the bank account - Though there is no specific evidence but the circumstances of the assessee and his lifestyle do suggest...

  10. Section 69B cannot be invoked on the assumption that there was understatement of the investment, without a finding that the assessee invested more than what was recorded...

 

Quick Updates:Latest Updates