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 February 2016 Year 2016 This

Addition of sundry creditors - Assessee has given the details ...


PAN Details and TDS Payment Render Creditor Confirmation Unnecessary for Income Tax Assessment Adjustment.

February 1, 2016

Case Laws     Income Tax     AT

Addition of sundry creditors - Assessee has given the details about the PAN of that particular creditor and also made TDS payment - Merely because confirmation has not been received from the creditor, addition cannot be made - AT

View Source

 


 

You may also like:

  1. ATTENTION: All DIRECTORS of ANY COMPANY Updating of Income Tax PAN details in MCA21 DIN DATA

  2. Addition u/s 69A/68 - assessee has filed confirmations of the depositors/creditors with full address, PAN, complete details of cheque amount & number loans/deposits; etc....

  3. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

  4. The High Court quashed the impugned orders, holding that Section 206AA, mandating 20% TDS rate for invalid PAN, was not applicable. The vendor had linked his PAN with...

  5. This notification amends the Income-tax Rules, 1962. Key changes include: substituting references to "section 89(1)" with "section 89"; replacing Rule 26B to allow...

  6. Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

  7. Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the...

  8. Withdrawing the excess tax credit for advance tax and self-assessment tax - Rectification u/s 154 - The assessee has to furnish details of different payments of tax by...

  9. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

  10. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

  11. Recovery proceedings of tax dues - preferential right - secured creditors - Income Tax Department’s preferential right to recovery of debts over other creditors is...

  12. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

  13. Rate of TDS - Non-availability of PAN - Benefit of treaty - in case of payments made to non-residents, the assessee was entitled to deduct taxes at source at the rates...

  14. Disallowance on account of payment of commission for obtaining supply order from government agencies - The assessee has submitted complete details including PANs of the...

  15. Tax deducted at source (TDS) issue related to agency services payments. Assessee demonstrated Form No. 3CD and Annexure D, showing TDS deducted u/s 194C on payments to...

 

Quick Updates:Latest Updates