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Income Tax - Highlights / Catch Notes

Home Highlights January 2018 Year 2018 This

Addition u/s 68 - creditworthiness and genuineness of the ...

Income Tax

January 4, 2018

Addition u/s 68 - creditworthiness and genuineness of the transaction - The assessee company being a private limited company, the burden of proof is clearly on higher pedestal as compared to public limited companies which it has failed to discharge i - AT

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  1. Unsecured loan obtained from companies u/s 68 – Creditworthiness and genuineness of transaction – assessee was rerouting its own funds was based on surmise - no addition - HC

  2. Transfer pricing adjustments - associated enterprise - the transactions between the assessee [ IJMII Integrated Township Development Co. Pvt. Ltd] and IJMII do not fall...

  3. Additions u/s 68 - cash credit -AO doubted the creditworthiness or the genuineness of the transaction on the basis of mere presumption and suspicion without properly...

  4. Addition u/s 68 - creditworthiness and the genuineness of the transactions - it is the satisfaction of the Assessing Officer but not of the Commissioner of Income Tax...

  5. Addition u/s. 68 being unsecured loans - onus to prove - The ITAT held that, primary onus can be discharged by establishing/furnishing the proof of the identity of the...

  6. Income recognition - income accrued - assessee received consultancy fees from UG Hospitals Pvt. Ltd.for the term of five years - assessee’s reliance of AS-9 issued by...

  7. Addition u/s 68 - SEBI’S order heavily relied upon by the AO - the allegation that the assessee and/or Ashita Stock Broking Ltd. getting involved in price rigging of...

  8. Addition u/s 68 - unsecured loans Addition u/s 2(22)(e) - Deemed dividend - The Tribunal found merit in the Assessee's submissions, noting that all relevant documents...

  9. Addition on account of un-explained loan - assessee discharged its initial onus to prove the identity of the investor company, its creditworthiness and genuineness of...

  10. Initiation of CIRP - Proxy of Corporate Debtor - two separate entities - whether any admission or communication sent by SNG Developers Ltd. can be considered as being...

 

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