Business compulsions and expediency in making the cash purchases ...

Income Tax

January 28, 2016

Business compulsions and expediency in making the cash purchases - In the absence of any specific detail, the vague statements made in response to the show cause notice, cannot offset the entries made in the books of accounts. - HC

View Source

← Previous Next →

Business compulsions and expediency in making the cash purchases ...

Income Tax

January 28, 2016

You may also like:

Disallowance of electricity payment paid in cash to Jodhpur Vidyut Vitran Nigam Limited u/s 40A(3) - there was business expediency of making cash payments so that there...

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...

Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible...

Addition u/s 40A(3) - cash purchases of petrol - Assessee was in the habit of purchasing petrol regularly - Assessee has not produced any documentary evidences to...

Disallowance u/s 40A(3) - transactions and payments made in cash - assessee filed affidavits from sub-contractors of assessee firm and they insisted for cash payments to...

Penalty u/s. 271D and 271E - numerous cash deposits and repayment was made in cash - assessee has demonstrated the funds were arranged in cash on urgent requirement of...

Unexplained jewellery u/s 69A - mere purchase bills are not sufficient to explain the source of purchase of silver items where such purchases are made in cash and in...

Donation versus business expenditure u/s 37(1) - Contribution to the welfare fund as a precondition for the grant of export permits - business expediency - assessee’s...

Addition u/s 40A - purchases in cash in excess of ₹ 20,000/ - case of the assessee that all the cash purchase are fully covered under Rule 6DD(e)(ii) of the Income...

Bogus purchase - The supplier parties to whom cheque payments were made for purchases booked in books of account, returns the corresponding cash back to the assessee...

Quick Updates: