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

← Previous Next →

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

Income Tax

January 8, 2016

You may also like:

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

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

Addition u/s 69 - amount received as advance / earnest money for sale of land which was deposited in the bank - The documents appeared to have been prepared by the...

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

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...

Addition u/s 68 - unexplained cash credit - receipt of cash from 5 different parties as advance towards sale of shops - when the assessee while discharging the initial...

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...

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

Addition u/s 68 - receipt of share application money - reliance on statement of third parties - The statements of third parties i.e. two angadias relied upon by the ld....

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...

Quick Updates: