Home Highlights March 2017 Year 2017 This

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1. Unexplained investment u/s 69 - Addition were made based on the retrieved data from CPU/Computer - source for above payments for agricultural lands have been explained...

2. Addition u/s 69B - differential amount between value as per registered purchase deed vis-a-vis guideline value determined by Stamp Valuation Authority - Merely because...

3. Unexplained investment - The basis of addition made in the present case is the source of investment remaining unexplained. Now, the assessee having explained the source...

4. Undisclosed investment u/s.69 - Since, the partnership deed is subsequent to the date of purchase of land, the partnership firm by no means could have made investment...

5. Unexplained investment in purchase land - on-money payment - The addition is also not based on valuation of land by any registered valuer. The addition is also not based...

6. Addition u/s 69C - excess stock - 69B OR 69C - mentioning of wrong section would not upset the Additions made by the AO as all these provisions have been enacted with a...

7. Unexplained investment u/s. 69 - Asstt. Comm. of Commercial Taxes estimated the valuation of WIP without mentioning the quantity or rate of the individual item - AO...

8. 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.

9. Unexplained money u/s 69A or investment u/s 69 - Once an AO finds that an investment has been made, he has to examine the Assessee's explanation as to the source of that...

10. Unexplained investment OR STCG - Investment in land from undisclosed sources made in purchase of land from various persons/farmers - Suspected short term capital gain...

11. Valuation - consideration of self supervision factor which lead to less value - Addition made on account of unexplained investment in cost of construction of building u/s.69B - AT

12. Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the...

13. Unexplained investment - when the transaction of sale of land and sale consideration is accepted by the AO of the seller as recorded in the sale deeds then the addition...

14. Unexplained investment u/s 69B - any investment made during the earlier years including the advances made, cannot be added as unexplained investment merely because that...

15. Unexplained investment - if Revenue wanted to make additions on this count, it is the first year i.e. AY 2009-10 when declaration and disclosure was made for the first...