Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Taxation on gains arising out of compulsory...     TaxTMI    LTCG - year of assessment - The Tribunal noted...     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Exemption u/s 11 - assessee has not e-filed or not...     TaxTMI    Taxable supply or not - Entry fee collected from...     TaxTMI    Extinguishment of liability as per order of NCLT -...     TaxTMI    Violation of principles of natural justice -cryptic...     TaxTMI    Determination of time limit for filing of Appeal...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Penalty u/s. 271(1)(c) - Referring to a precedent...     TaxTMI    Penalty levied u/s 271(1)(c) - Transfer pricing...     TaxTMI    Eligibility for Input Tax Credit - Failure to...     TaxTMI    Levy of penalty @200% - e-way bill which was...     TaxTMI    Levy of interest and penalty - transition of amount...     TaxTMI    Levy of maximum penalty - penalty imposed on the...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Estimation of income - Undisclosed bank transactions - assessee ...

Income Tax

October 4, 2018

Estimation of income - Undisclosed bank transactions - assessee himself has offered profit of 0.30% before the AO which was rejected by him who estimated such income at 3%. - Adoption of 0.5% as net profit on such undisclosed transactions outside the books will meet the ends of justice.

View Source

 

← Previous Next →

 

You may also like:

  1. Estimation of net profit - Rejection of books of accounts - Just because that the assessee is having 5 bank accounts and not shown in the regular books cannot be the...

  2. Estimation of gross profit - assessee had given a reasonable explanation for the lower gross profit shown by it during the relevant previous year - addition for lower...

  3. Estimation of income - bogus purchases - quantification of profit - The Tribunal noted that during investigations, the alleged suppliers were identified as bogus...

  4. Unaccounted income on sale of plots in cash - estimation of Net profit - estimation on the on- money received by the assessee - The Tribunal dismissed the Assessee's...

  5. Taxability of Bogus purchase - Estimation of profit - in cases where purchases are not proved with necessary evidences, only profit element embedded on those purchases...

  6. Additions on account of Client-code modification (CCM) - undisclosed profit on future and option transaction in shares - Whole basis of making additions in the hands of...

  7. Estimation of income based on MRP - retail trade in liquor - estimate of net profit above 5% of the purchases made by the assessee is to be adopted - AT

  8. Undisclosed profit from unaccounted sales - CIT(A) was fair and reasonable while applying the G.P. Rate at 20% on the undisclosed sales. - AT

  9. Estimation of income on Cash Deposited in Bank Account - Kachha Arahtiya - Estimation of Net Profit (NP) @ 5% instead of 1% as claimed by the assessee - so far as kachha...

  10. Undisclosed investment in FD - CIT (A) has rightly noted that the increase of her investment in FD with Bank of India was not her undisclosed income - AT

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: Penalty under Section 73(1) of CGST Act, 2017
F: INQUIRY BY THE APPELLATE AUTHORITY
H: Addition u/s 68 - unexplained share application money - genuineness an...
H: Validity of reopening of assessment - The High Court notes that certai...
H: Condonation of delay of 1085 days in filing the appeal u/s 260-A - Rev...
H: TDS u/s 194H - assessee is a cellular mobile service providers - Align...
H: Reopening of assessment u/s 147 - The High Court noted that the issue ...
H: Validity of reopening of assessment - The High Court found that the As...
H: Reopening of assessment u/s 147 - Reasons to believe - The High Court ...
H: Rectification application u/s 254 - Tribunal not followed the decision...
H: Reopening of assessment against entity ceased to exist/amalgamating en...
F: Refund of IGST Charged and collected from Foreign Customer on Export o...
H: Capital gain arising on transfer of land - STCG arising out of the tra...
H: Grant of approval u/s 80G(5) - Delay in filing From No. 10AB for appro...
H: Deduction u/s.80IA(4)(i) - assessee business is in the nature of work ...
H: Jurisdiction of the Tribunal to entertain the appeal related to duty d...
H: Seeking release of the original bill of lading and release of the carg...
H: Power of High Court to entertain writ petition - alternative efficacio...
F: sales Against 0.1% GST- if export not done within 90 Days
F: PAYMENT TO CINE OR TV ARTISTS. LIABILITY UNDER RCM
A: Collection of Entry Fee from visitors for Temple Hall Exempt under GST
A: State-wise Professional Tax Payment Deadlines in India: A Comprehensiv...
A: Low tax effect in pending appeals- The administrative role to withdraw...
F: ITC of FY 2017-18 blocked
C: Clarification on the applicability of 3% amount on account of non-achi...
C: Suspension of inoperative SIONs
N: Amendment in the Export policy of Onions
N: Seeks to amend specified customs tariff notifications to exempt applic...
A: How to become a crorepati via SIP
C: Master Direction – Risk Management and Inter-Bank Dealings: Amendments