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 2017 Year 2017 This

Addition on unexplained cash credit - the entire entries in the ...


Court Rules No Addition for Fictitious Cash Credits in Assessee's Books; No Real Money Changed Hands.

July 25, 2017

Case Laws     Income Tax     AT

Addition on unexplained cash credit - the entire entries in the books of accounts of the assessee were found to be fudged and fictitious. - no addition should be made on the basis of fictitious credit entries where no real money was found to be involved.

View Source

 


 

You may also like:

  1. This case pertains to the addition made u/s 69A of the Income Tax Act regarding unexplained cash found during a search operation. The assessee produced a cash book to...

  2. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

  3. Addition for the lesser cash in hand found as compared with the books of account - applicability of section 68 or 69A - it was not a case where money is not recorded in...

  4. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

  5. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

  6. The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions...

  7. Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to...

  8. Addition u/s 69B - Cash transactions in the seized documents during a search operation - cash against sale of flat - When no material has been found that assessee has...

  9. Deposits by the assessee in bank account during demonetization period were not unexplained. Section 69A is inapplicable as there were proper entries for cash sales, cash...

  10. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

  11. Addition u/s 69 - cash deposited in the bank out of opening cash in hand - AO noticed that the assessee had raised loans and also withdrawn cash numerous times...

  12. Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

  13. Refund of unutilized Cenvat credit - Other than Rule 5 of Cenvat Credit Rules, there is no other provision either in Cenvat Credit Rules, 2004 or in Central Excise...

  14. Addition on account of cash deposit during demonetization period - the assessee glumly failed to justify the genuineness of the cash on hand viz a viz its use for...

  15. AO accepted assessee company's books of accounts and net profit disclosed therein. However, AO treated cash deposits in bank accounts during demonetization period as...

 

Quick Updates:Latest Updates