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Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Addition under Sec. 69C - unexplained credit card expenses - ...

Income Tax

August 29, 2017

Addition under Sec. 69C - unexplained credit card expenses - assessee had failed to explain, both the nature of the transactions and the source of money deposited by him in the bank accounts connected with the credit cards - additions confirmed

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  1. 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...

  2. 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.

  3. 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...

  4. Addition u/s 69C - household withdrawals - contention of the assessee towards household expenses is not capable of acceptance. Addition confirmed - AT

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

  7. Addition u/s 69C - Unexplained expenses/premium - assessee did not furnish the source of payment of such expenses/premium - The case of assessee throughout the...

  8. Addition u/s 69C r.w.s.115BBE - Payment of credit card by cash as a unexplained expenditure - Without establishing conclusively, a section like 69C falling under the...

  9. 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

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

 

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