Disallowance of bogus loss - No information is available on ...

Income Tax

September 15, 2017

Disallowance of bogus loss - No information is available on record as to how the assessee company has taken loss from these client code modification - No details have been brought on record as to from whom assessee has taken the bogus entry of losses - No additions

View Source

← Previous Next →

Disallowance of bogus loss - No information is available on ...

Income Tax

September 15, 2017

You may also like:

Reopening of an assessment beyond 4 years - issue of bogus purchases - specific and concrete information available with the AO - Reassessment proceedings sustained -...

Disallowances of bogus trading loss in penny stock as well as commission expenses - admittedly there was no evidence available on record suggesting that the assessee or...

Disallowance of capital loss – Genuineness of the transaction - Merely because the transaction is between the relatives, it, per se, cannot be said to be sham or bogus...

Re-assessment - No addition is made rather from the records the information available was used for making disallowance - the order of reopening is quashed - AT

Restriction of disallowance - Bogus purchases - Restriction of disallowance @30% of total disallowance – addition of 12.5% net profit on bogus purchase is reasonable - AT

Reassessment proceedings after information received from Director of Investigation regarding bogus/accommodation entries - HC

The term ‘Provision” is something which cannot be ascertained as per the information available at the year end. But in this case, assessee has proper information and...

Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

Disallowance on account of bad debt/trading loss - the assessee is eligible for the deduction of the amount embezzled by the employee as a trading loss.

Disallowance of exchange loss incurred on export of goods - exchange loss on export of goods adjusted against the export advance is allowable to the assessee - AT

Quick Updates: