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 u/s 68 - creditworthiness - The assessee has taken ...

Income Tax

July 20, 2016

Addition u/s 68 - creditworthiness - The assessee has taken alleged unsecured loan in systematic manner. In some of the cases cash was deposited one or two days before the money was given to the assessee, and the assessee is man of means. How it can be expected that small farmers not having any regular source of income would give loan in this fashion. - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 on account of unsecured loans from directors - Assessee has failed to show creditworthiness of both the lenders. - additions confirmed.

  2. Unsecured loan obtained from companies u/s 68 – Creditworthiness and genuineness of transaction – assessee was rerouting its own funds was based on surmise - no addition - HC

  3. Additions u/s 68 - Merely by providing the Income Tax Return and PAN number is not enough to establish the creditworthiness and genuineness of the unsecured loans.

  4. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  5. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

  6. Unexplained cash deposits - addition u/s 68 - Merely because the creditor did not respond to the notice, no adverse inference can be taken with regard to the...

  7. Additions u/s 68 - unexplained unsecured loans - CIT(A) had rightly deleted the addition towards loans received from the companies in the same group

  8. Addition u/s 68 - unexplained cash credit - unsecured loan - the assessee has not been able to establish the creditworthiness of lender nor has he been able to establish...

  9. Addition u/s 68 - In this case, the AO has made additions only on the basis of statement recorded from third party ignoring various evidences filed by the assessee to...

  10. Addition of unsecured loan u/s 68 - interest free unsecured loan received from a close friend in Dubai to fund ongoing project with a condition that amount will be...

 

Quick Updates:Latest Updates