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Income Tax - Highlights / Catch Notes

Home Highlights March 2018 Year 2018 This

Addition made u/s 69C was due to the reason that the assessee ...

Income Tax

March 22, 2018

Addition made u/s 69C was due to the reason that the assessee failed to explain the source of said expenses. Accordingly, we concur with the view of ld. CIT (A) to restrict the penalty to 100% of the tax to be evaded of such income - AT

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  9. Addition u/s 69A - addition of processing charges bill alleged to be paid outside the books of accounts - Assessee should have been allowed to reconcile and explain the...

  10. Penalty u/s 271(1)(c) - not entitled for the deduction U/s 54 - claim deduction allowed U/s 54F - once, the assessee has explained the reasons for making a wrong claim...

  11. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

  12. 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...

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  15. Addition on account of capital introduction by the partners of the assessee-firm - The source of funds utilized for giving such gifts was explained as the sale proceeds...

 

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