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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Tribunal was right in law in deleting the addition made on ...

Income Tax

July 16, 2016

Tribunal was right in law in deleting the addition made on account of difference in stock statement as furnished before the bank as compared to shown in books of account for availing higher credit facility - HC

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  1. Tribunal was right in law in deleting the addition made on account of difference in stock statement as furnished before the bank as compared to shown in books of account - HC

  2. Difference in value of stock as per stock statement submitted to bank and stocks as per books - additions deleted - HC

  3. Excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The ITAT concluded that the addition made by the AO was not justified....

  4. Addition on account of excess stock - difference in stock statement submitted with bank and as per books of accounts - No additions

  5. Difference of stock - amount of closing stock differ in the books and as per the statement given to the bankers - unaccounted fabrication work - additions confirmed - HC

  6. Difference in stock submitted to bank and income tax department -addition based on stock statement submitted to Bank is not sustainable - AT

  7. Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

  8. Assessing Officer was right in making additions towards difference in turnover as per books of account and TDS certificates - AT

  9. Addition of difference between the value of stocks falsely declared to Canara Bank as at 31-03-2004 and 31-03- 2005 confirmed - Addition of bogus creditors confirmed - AT

  10. Addition on account of difference in stock found during survey u/s 132 - As the discrepancy could not be reconciled and satisfactorily explained by assessee, addition upheld - AT

 

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