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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Addition u/s 68 - unsecured loans receipt - Merely because the ...

Income Tax

November 27, 2018

Addition u/s 68 - unsecured loans receipt - Merely because the summons issued seeking their personal appearance is not complied with, the entire transactions cannot be treated as bogus and cannot be doubted by the revenue

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  3. Addition u/s 68 - In this case, the AO has made additions only on the basis of statement recorded from third party ignoring various evidences filed by the assessee to...

  4. Addition u/s 68 - unsecured loans treated as unexplained credit - Onus to prove - AO merely issued show cause notice to the lenders and apparently stopped without making...

  5. Addition u/s 68 - Since the assessing officer treated the unsecured loan as unaccounted received consequent interest was also disallowed. AO without any material...

  6. Additions u/s 68 - unexplained unsecured loans - CIT(A) had rightly deleted the addition towards loans received from the companies in the same group

  7. 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...

  8. Addition u/s 68 - unsecured loans - the AO did not acknowledge the confirmation along with PAN number, ITR and bank account of the appellant which were very relevant...

  9. Unexplained unsecured loan u/s. 68 - AO inter-alia observed that the assessee has shown squared off unsecured loans allegedly received from an entity - bona fides of...

  10. Addition of unsecured loan u/s 68 - interest free unsecured loan received from a close friend in Dubai to fund ongoing project with a condition that amount will be...

  11. Reopening of assessment u/s 147 - Addition u/s 68 - unexplained share premium - While recording the reasons for reopening the assessment, the AO did not even care to...

  12. Addition u/s 68 - unsecured loans - The loan transactions are routed through regular banking channels and reflected duly in the annual accounts of the lender company....

  13. Addition u/s 68 - Unexplained loan - Neither any written contract nor any identity of the Creditor, having been established in the present case, we cannot find any fault...

  14. Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had also paid interest on the unsecured loan after deducting TDS @20% which reveals that during subsequent...

  15. Additions u/s 68 - Merely by providing the Income Tax Return and PAN number is not enough to establish the creditworthiness and genuineness of the unsecured loans.

 

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