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Income Tax - Highlights / Catch Notes

Home Highlights January 2019 Year 2019 This

Addition u/s 68 - creditworthiness of the creditor - share ...

Income Tax

January 1, 2019

Addition u/s 68 - creditworthiness of the creditor - share applicant was residing abroad during relevant time - the money brought into India by non-residents for investment or other purposes is not liable to Indian Income Tax.

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  1. 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...

  2. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

  3. Addition u/s 68 - unexplained share capital - Even though there were circumstances leading to suspicion, yet having taken an action u/s.132 and enquiries made in the...

  4. Unexplained cash deposits - addition u/s 68 - Merely because the creditor did not respond to the notice, no adverse inference can be taken with regard to the...

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

  6. Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

  7. Addition u/s 68 - addition on account of share application money - The identity of the above share applicants was also independently verified by the inspectors during...

  8. Addition u/s 68 - assessee submitted all the necessary details in support of the share applicant and share premium receipt - The A.O. has not pointed out any defect in...

  9. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  10. Addition u/s 68 - share application monay - unaccounted money has been laundered by creating fagade of paper work - shares issued to sister concern i.e., sole share...

 

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