Addition to equity & to unsecured loans & sundry creditors - ...

Assessee Accused of Collecting Rs. 15 Crores from Public; Over 1,500 Investors File FIRs and Lawsuits.

July 11, 2019

Case Laws Income Tax AT

Addition to equity & to unsecured loans & sundry creditors - when 1500 investors have filed FIR's & law suits claiming about ₹ 15 crores as paid by them and Crime Branch status report clearly establishes that the assessee had collected funds from public at large and had not repaid them - Therefore, the existence of the depositors cannot be doubted - no addition called for

View Source

← Previous Next →

Addition to equity & to unsecured loans & sundry creditors - ...

Assessee Accused of Collecting Rs. 15 Crores from Public; Over 1,500 Investors File FIRs and Lawsuits.

July 11, 2019

Case Laws Income Tax AT

You may also like:

Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

The GoI through DPIIT has revised eligibility criteria for Industrial Entrepreneurs Memorandum (IEM) acknowledgment, increasing investment thresholds for large-scale...

₹ 1,10,828 crore GST Gross Revenue collected for January, 2020

Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

The HC allowed the petition filed u/s 482 CrPC. It set aside the trial court's condition directing the petitioner, accused of fraudulently availing Input Tax Credit...

Gross NPAs of Public Sector Banks Stood at Rs.71,047 Crore as on 31st March,2011.

Jurisdiction of Single Member Bench of the Income Tax Appellate Tribunal - Monetary limit Rs.50 lakhs for hearing Appeal - In the present case, the assessee returned...

HC finds prima facie evidence of conspiracy and illegal gratification against accused No. 1 under PC Act and IPC. Prosecution alleges reduction of compounding tax from...

The Appellate Tribunal considered a case involving deduction u/s 80M. The assessee received Rs. 37,12,500 dividend from a domestic company and distributed Rs. 30 Lakh to...

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

GST revenue collections for February 2018 (received in February/March upto 26th March) stand at ₹ 85,174 crore; ₹ 14,945 crore collected as CGST, ₹...

Application seeking regular bail granted - accused allegedly formed bogus firms and evaded tax payments - offences u/ss 132(1)(b), 132(1)(c) and 132(1)(l)(l) of GST Act...

Levy of penalty - taking CENVAT Credit irregularly - it is the contention of the Assessee that there is some element of discretion available in the adjudicating officer...

The Lok Sabha passed the Finance Bill 2025 with 35 government amendments, including the abolition of a 6% digital tax on online advertisements. This completes the lower...

Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

Quick Updates: