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 March 2017 Year 2017 This

Unexplained cash credit - AO has wrongly treated the share ...

Income Tax

March 8, 2017

Unexplained cash credit - AO has wrongly treated the share application money as income of the assessee. If any amount is to be added it should be added in the hand of Directors because only they can take the entry by giving the cash from their pockets - AT

View Source

 


 

You may also like:

  1. 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...

  2. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

  3. Validity of confirmation of penalty u/s 271(1)(c) – ssessee miserably failed to offer an explanation for the cash credit raised in the form of share application money -...

  4. Unexplained Cash Credit u/s 68 - share application money pending allotment treated as undisclosed money - The manner in which ld. CIT (A) passed the appellate order...

  5. Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

  6. Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in...

  7. Addition u/s 68 - Unexplained share transactions - Consideration received other than cash - There are no details on facts as to what was the investment which was made by...

  8. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

  9. Amount which was credited in books of accounts of the assessee in the preceding year cannot be treated as unexplained cash credit u/s 68 in the relevant assessment year.

  10. Unexplained cash credit addition u/s 68 - share application money - the assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the...

 

Quick Updates:Latest Updates