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Income Tax - Highlights / Catch Notes

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Additions u/s.68 - Failure on the part of the buyers of the ...

Income Tax

January 20, 2016

Additions u/s.68 - Failure on the part of the buyers of the flat to establish their source of income cannot be made as the reason to make addition in the hands of the assessee without out examining them when they themselves had admitted for having advanced the amount to the assessee - AT

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  2. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  3. Protective addition made in the hands of the assessee - addition u/s 68 - the Revenue cannot take different stand in respect of these two assessee.

  4. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

  5. Addition u/s 68 - share capital and share premium - any addition which deserved to be made should have been made in the hands of the share applicants who have shown...

  6. Addition u/s 68 - the addition for the reason that the denomination of notes withdrawn and re-deposited was different, it cannot be a ground to make the addition - AT

  7. Addition u/s 68 - Once addition is made in the hands of the investor company for this reason that the source could not be explained by the investor company, it cannot be...

  8. Unexplained Money addition under Section 69A - Where the basis for making the addition in the hands of the buyer has been held as inadmissible and unsustainable, the...

  9. Addition u/s 68 - proof of source of the donor - Gift from his brother (relative) - The assessee had not proved his brother's source of income to the Department - demand...

  10. Reopening of assessment u/s 147 - Addition u/s 68 - transaction of the sale of shares - Assessee has explained the source of the source of funds available with buyer...

 

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