Addition u/s 69C - purchase of goods - It is not the case of ...

Income Tax

August 2, 2016

Addition u/s 69C - purchase of goods - It is not the case of expenditure that was incurred by the it was not entered in the books of accounts. The AO has nowhere held that as to how the explanation offered by the assessee about the source of the expenditure was unsatisfactory. - No addition - AT

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Addition u/s 69C - purchase of goods - It is not the case of ...

Income Tax

August 2, 2016

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Additions cannot be made u/s 69C of the Act, as unexplained expenditure, towards difference between purchase price found in loose slips and amount recorded in books of account - AT

Addition u/s 69C - CIT(A) deleted the addition - in order to invoke the provisions of sec. 69C, should give a categorical finding that the assessee has incurred any...

Addition u/s 69C – Unexplained expenditure - only because parties has given a different accounting treatment in its books of account, it cannot be said that the assessee...

Unexplained purchase u/s 69C - Section 69C clearly refers to the “source of the expenditure” and not to the expenditure itself - AT

Credit purchases are nothing but expenditure and if sundry credits are not proved by the assessee addition can be made by the AO by resorting to section 69C - HC

Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

Unexplained expenditure u/s 69C - expenditure of stamp duty paid for registration of property sold - additions confirmed - HC

Addition u/s 69C - asessing authority could not have referred the matter to the DVO without the books of account being rejected - additions deleted - AT

Additions made u/s 69C - unexplained expenditure – Whether the Assessing Officer had acted on conjectures and surmises – Held no, additions confirmed - HC

Expenditure incurred on improvement/additions to leasehold property - The expenditure incurred by the assessee on construction of storage structure etc. has to be...

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