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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Additions u/s 68 - Merely by providing the Income Tax Return and ...

Income Tax

November 29, 2018

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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  2. Addition u/s 68 - share capital and share premium - allegation regarding identity and creditworthiness - non appearance of director - addition cannot be sustained merely...

  3. Addition u/s 68 - the creditworthiness of the investors could never be established once it was found that there was no person existing who may have entered into such a...

  4. Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the...

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  6. Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

  7. 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...

  8. Addition u/s 68 - creditworthiness and the genuineness of the transactions - it is the satisfaction of the Assessing Officer but not of the Commissioner of Income Tax...

  9. Misuse of PAN - Rival group has been using the same Permanent Account Number (PAN) - Under the Income Tax Act, 1961 only one Permanent Account Number is issued to an...

  10. Addition u/s 68 on account of unsecured loans from directors - Assessee has failed to show creditworthiness of both the lenders. - additions confirmed.

 

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