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

Accrual of income - Addition on account of undisclosed ...

Income Tax

July 8, 2016

Accrual of income - Addition on account of undisclosed transportation receipts - as the amount were received by the assessee on behalf of the truck owners and therefore the entire amount cannot be treat as income of the assessee. - AT

View Source

 


 

You may also like:

  1. Undisclosed cash deposit in bank account - The amount deposited was received from purchasers/buyers - The assessee also explained that he was supplying marble on...

  2. Taxability of capital gains - denial of adjustments to full value of sale consideration towards amount lying in Escrow account while determining the LTCG - ITAT accepted...

  3. Accrual of income - taxability of advances received - Merely because an amount has been entered into in assessee’s book, is not conclusive proof that income has accrued - AT

  4. Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital...

  5. Accrual of income – claim of credit for the tax deducted (TDS) does not make the assessee “bound” to pay tax on the receipts, unless such receipts constitute income in...

  6. On money receipts - additions based on the disclosure made before the Settlement Commission, however, the application was rejected by the commission - As a settled...

  7. Undisclosed income - addition on the basis of amount reflected in Form No.26AS - No dispute with regard to the fact that the AO taxed the entire difference of receipts -...

  8. Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

  9. Mall upkeep and promotional fees received by the assessee - amount of maintenance charges received were business receipts assessable under the head 'business income'.... - HC

  10. Sale transaction of land - unsigned agreement being in the possession of the seller viz., the assessee would not amount to “dumb document“ - addition towards...

 

Quick Updates:Latest Updates