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 July 2016 Year 2016 This

Addition su/s 68 / 69 - When the person who has given advance to ...

Income Tax

July 5, 2016

Addition su/s 68 / 69 - When the person who has given advance to the assessee, has sufficient cash balance in its books, the advance cannot be treated as unexplained income of the assessee.

View Source

 


 

You may also like:

  1. Addition on account of cash found short u/s 68 and also holding that the same to be taxed u/s 115BBE - Cash short, at the most represents expenses / outgoings out of...

  2. Unexplained cash credit - the balance cash was appearing in the books, itself is sufficient evidence to show that it stood explained - AT

  3. Addition u/s 68 - evidences about the receipt of the cash and repayment of the cash despite those persons having proper bank account - whole explanation of the assessee...

  4. Amount which was credited in books of accounts of the assessee in the preceding year cannot be treated as unexplained cash credit u/s 68 in the relevant assessment year.

  5. Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search - The assessee provided a cash reconciliation statement, demonstrating that the cash balance remained...

  6. Addition u/s 68 - Unexplained cash advances received from various customers - trade advances given by the creditors/customers were found to be adjusted against the sale...

  7. Addition u/s 68 - cash credit - the alleged surplus cash accumulated in the cash book out of the withdrawals from the bank is to be considered as source of re-deposit - AT

  8. Unexplained cash credit - addition of cash deposit in bank account - It is important to mention here that the bank statements cannot be termed as books of accounts for...

  9. Unexplained cash credit u/s 68 - unexplained cash deposit in the bank account during post-demonetization period - Even otherwise the ld. AO should have appreciated that...

  10. Addition u/s.69 - difference of cash balance in the bank account as per books of account and as per the bank statement - once the books of accounts of the assessee are...

 

Quick Updates:Latest Updates