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Income Tax - Highlights / Catch Notes

Home Highlights March 2018 Year 2018 This

The addition confirmed u/s 68 as unexplained credit instead of ...

Income Tax

March 21, 2018

The addition confirmed u/s 68 as unexplained credit instead of long term capital gain as claimed by the assessee - however, the source identity and genuineness of the transaction having been established by documentary evidences - Additions deleted - AT

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  1. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

  2. There was a genuine transaction of purchase and sale of shares on which assessee has earned Long Term Capital Gain, and therefore, such Long Term Capital Gain cannot be...

  3. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  4. Bogus long term capital gain - addition made towards unexplained cash credit u/s 68 - revenue did not indicate any specific evidence against the assessee in above terms...

  5. Unexplained share capital u/s 68 - the Revenue cannot be held to be an aggrieved party once CIT(A) has deleted the impugned addition based on Assessing Officer...

  6. Addition of income being gift of India Millennium Deposit received as unexplained credit u/s 68 - genuinity stands proved - no addition - AT

  7. Unexplained Credit – Addition u/s 68 - Additin where fixed deposits taken during the earlier years - fixed deposits renewed during the year - No addition during the...

  8. Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

  9. Addition on account of unexplained cash credit U/s 68 r.w.s. 115BBE - in absence of any evidence, it cannot be held that the assessee has introduced his own unaccounted...

  10. Unexplained cash credit u/s 68 - Undisclosed bank account - the assessee has not filed any satisfactory explanation or documentary evidence either before authorities...

 

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