Section 69B cannot be invoked on the assumption that there was ...

Income Tax

October 10, 2017

Section 69B cannot be invoked on the assumption that there was understatement of the investment, without a finding that the assessee invested more than what was recorded in the books of account.

View Source

← Previous Next →

Section 69B cannot be invoked on the assumption that there was ...

Income Tax

October 10, 2017

You may also like:

Additions made u/s 69B - excess stock found during survey - assessee contended that as per the books during the course of survey was without the opening stock - no merit...

Maintainability of SCN - Short paid Service Tax - the book of accounts are not rejected and without rejecting the assumption of the gross receipt as taxable service, is...

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...

Addition u/s 69B - Amount of investments, etc., not fully disclosed in books of account. - the silence of the assessee on the statement recorded proves that he has...

Validity of reopening assessment - unexplained investment - survey u/s 133A - the vague statements giving estimated details without supporting evidence would not help...

Deemed income u/s 69B of the Act – Tribunal erred in holding that the DVO’s report did not corroborate the statement made by the assessee before the Income Tax Authorities - HC

Assessment u/s 153A - addition was made based on the statement of director of investing companies recorded in an independent proceedings u/s 132/133A/131(1) and the...

Provisions of section 68 cannot be invoked on various deposits/credits found recorded in the bank account of the assessee in the absence of books maintained for that...

Exemption u/s 54F - the assessee is required to prove the actual date of investment and the amount invested towards purchase/construction of the residential house with...

Addition of undisclosed income u/s 69B - purchase of share from its directors and their closely held companies - nothing on record would demonstrate any exchange / flow...

Quick Updates: