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 January 2016 Year 2016 This

Addition on receipt of on-money - alleged cash having been paid ...

Income Tax

January 8, 2016

Addition on receipt of on-money - alleged cash having been paid after the date of execution of sale deed, no reliance could be placed on the aforesaid addition to hold that the assessee was in receipt of on-money. - AT

View Source

 


 

You may also like:

  1. Addition made on account of unaccounted cash receipts – Sale of car parking area - Without any evidence in the year for receipt of on-money the addition cannot be sustained - AT

  2. Unexplained cash deposits - Our aforesaid conviction that the lower authorities before rejecting the assessee’s claim of having received the sale consideration prior to...

  3. Undisclosed investment - land received from Aunt - Amount disclosed in the sale deed - Assessee stated that no amount paid to Aunt - It is not the case of the assessee...

  4. Addition made on account of unaccounted cash receipts – Cash receipts of brokerage – Sale of car parking charges - the assessee’s purchases cannot be doubted on ad-hoc basis - AT

  5. Capital gain on property gifted - Execution of sale deed instead of gift deed wrongly in favor of Daughter in law (DIL) - DIL has not paid the amount as mentioned in the...

  6. Even upon detection of on money receipt or unaccounted cash receipt, what can be brought to tax is the profit embedded in such receipts and not the entire receipts themselves - HC

  7. Levy of penalty Notice u/s 274 r.w.s. 271D - Cash sale of immovable property - The objective of the amendment proposed in 269SS of the Act is to curb generation of black...

  8. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

  9. Addition u/s 40A - sum paid in cash in respect of purchase of the two immoveable properties - Sale deed has been executed on 18.8.2013 and the payment has been made on...

  10. Allowability of Derivative loss - separate addition on account of alleged payment of margin monies on an estimated basis - The Tribunal emphasized that in derivative...

 

Quick Updates:Latest Updates