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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Addition of income being gift of India Millennium Deposit ...

Income Tax

August 22, 2016

Addition of income being gift of India Millennium Deposit received as unexplained credit u/s 68 - genuinity stands proved - no addition - AT

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  2. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  3. Unexplained Credit – Addition u/s 68 - Additin where fixed deposits taken during the earlier years - fixed deposits renewed during the year - No addition during the...

  4. Taxability of Gift u/s 56 - the issue of gift of Indian Millennium Deposit certificate is not taxable in the hands of the assessee who received the same upon gift and...

  5. Addition u/s 68 - gifts received from NRI - the assessee’s plea of having received gift deserves acceptance. - AT

  6. Addition u/s 68 - Unexplained cash credit - CIT(A) accepted the source of cash deposits without any supporting documents, the issue require detailed enquiry with regard...

  7. Addition in respect of the gift received as unexplained cash credits as well as non-genuine - HC

  8. Unexplained credit u/s 68 - unsecured loan from registered NBFC and other companies - revenue failed to prove that loan were bogus - additions deleted.

  9. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

  10. Addition u/s 68 - proof of source of the donor - Gift from his brother (relative) - The assessee had not proved his brother's source of income to the Department - demand...

 

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