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 September 2015 Year 2015 This

When AO accepts purchases as well as payments made by assessee ...

Income Tax

September 23, 2015

When AO accepts purchases as well as payments made by assessee to the concerned parties, he cannot treat the outstanding closing balance of the concerned creditors as bogus on purely conjectures and surmises - AT

View Source

 


 

You may also like:

  1. Addition on account of bogus creditors - non-producing the parties in person - When the purchases from the parties were accepted and the sales made out of those...

  2. Addition made of the closing balance of the sundry creditors - when the purchases from the parties were accepted and the sales made out of those purchases were not...

  3. Unexplained expenditure u/s 69C - genuineness of purchases - Assessee statedly had made purchases from the three parties - Payments made through banking channels -...

  4. Bogus purchases - accommodation entry - at best it would be a case that purchases have been made from one party in grey market and bills have been obtained from another...

  5. Addition u/s 69C - bogus purchase bills - AO was having complete information about those parties - The ld. AO himself made any enquiry with those parties further with...

  6. Rejection of books of accounts - estimation of income - Unexplained Investment in Purchases - A.O has accepted all other transactions of purchases and payment made...

  7. Revision u/s 263 - expenditure on purchased CDs on Jain Religion - AO had carried out detailed enquiries and taken a plausible view and accepted the assessee's treatment...

  8. Addition u/s 40A(3) - Payment not made in cash but paid to third parties on behalf of supplier of goods – AO was not justified in invoking the section 40A(3) - AT

  9. Agents incentive expenses - AO has not established that the payments made to the related parties are excessive or unreasonable under the three criterias specified in...

  10. Bogus purchases - addition made towards entire bogus purchase - Assessee has literally wasted precious time of the AO by once again issuing notices and summons to the...

 

Quick Updates:Latest Updates