Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2018 Year 2018 This

Reopening of assessment - unexplained source of credit card ...

Income Tax

September 15, 2018

Reopening of assessment - unexplained source of credit card expenditure - return filing under wrong PAN - AO had only remedy under the provisions of the Act to issue notice under section 148 to assess the income of the assessee as there was no valid return and the return filed under wrong PAN was a non est return.

View Source

 


 

You may also like:

  1. Unexplained purchase u/s 69C - Section 69C clearly refers to the “source of the expenditure” and not to the expenditure itself - AT

  2. 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...

  3. Addition u/s 68 - Unexplained cash credit - CIT(A) accepted the source of cash deposits without any supporting documents, the issue require detailed enquiry with regard...

  4. Unaccounted expenditure - Unexplained source of cash - it is difficult to believe that a person who withdraws money from the bank account gives it to someone else for...

  5. Reopening of assessment - expenditure has wrongly been allowed - reopening of the assessment completed under section 143(1) by issue of a notice under section 148 was valid - HC

  6. Benefit of Section 11 & 12 - the assumption of the AO that the expenditure incurred through credit card was personal, is not correct.

  7. Addition towards payment made to credit card company - since the assessee had not claimed any expenditure, the question of proving whether it was for the purpose of...

  8. 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...

  9. Non-deduction of tax u/s 194C – The expenditures were incurred towards greeting cards, stationery, visiting cards, calendars, registers, etc - being a sale and purchase...

  10. Grossing up of the expenditure with TDS amount for claiming deduction - Non reimbursable tax paid to Master Cards/Visa Cards included under the head “Operating Expenses“...

 

Quick Updates:Latest Updates