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 June 2016 Year 2016 This

Reassessment - unaccounted loan received - when AO did not ...

Income Tax

June 6, 2016

Reassessment - unaccounted loan received - when AO did not describe how and what manner it came to his knowledge that the assessee receive the accommodation entries, the reopening done by the AO u/s 147 was not valid - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - Since the assessing officer treated the unsecured loan as unaccounted received consequent interest was also disallowed. AO without any material...

  2. Reopening of assessment u/s 147 - Unexplained loan transaction - If it emerges from the reasons recorded, which, in turn, are based on some cogent material, that the AO...

  3. Reopening of assessment - The conclusion of the A.O. is unhelpful in understanding as to whether the AO applied his mind to the material, particularly when he did not...

  4. Addition u/s 37(1) - disallowing interest provided on loan - loan was used to purchase shares - Assessee received loan in earlier years on which interest is also paid...

  5. Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

  6. Addition of deemed dividend u/s 2(22)(e) - proof of incriminating material found in the course of search - There is no loan or advance received by the assessee from the...

  7. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

  8. Disallowance u/s. 2(22)(e) - assessee has received unsecured loan and assessee company from whom it has obtained unsecured loan there were two common directors - Since...

  9. Addition u/s. 28(iv) - waiver of loan - value of benefit arising from business of the assessee - the assessee has received loan from certain parties for the purpose of...

  10. Exemption u/s 11 - allegation of accommodation entry in the garb of corpus donation - There is no legal admissible evidence on record against the assessee that assessee...

  11. Additions of benefits or perquisites received as business income - waiver of loan u/s 28(iv) - the assessee had purchased the equipment, for which assessee had not paid....

  12. Unaccounted purchases - unaccounted income of the assessee - it is difficult to accept the arguments of the assessee that income earned out of unaccounted sales is...

  13. Unexplained Unsecured Loans - Additions made by the ld.AO in the case of assessee are against the principles laid down u/s.68 - no addition could have been made by the...

  14. Unexplained unsecured loans - the assessee in reply had submitted that the contract can be either verbal or written and simply non availability of a written contract...

  15. Unexplained unsecured loan u/s. 68 - AO inter-alia observed that the assessee has shown squared off unsecured loans allegedly received from an entity - bona fides of...

 

Quick Updates:Latest Updates