Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights This

Unexplained investment - Subsequent to the search ...

Income Tax

Unexplained investment - Subsequent to the search proceedings the assessee surrendered income towards ‘bogus bills’ booked during various years - when investment made by the assessee was sourced from the cash that was received back by the assessee against the payments made towards ‘bogus purchases’ which is already offer to tax then a separate addition as regards the application of the said amount would not be justified

View Source

 


 

You may also like:

  1. Unexplained investment - lottery coupons found in possession in search - No explanation to whom it belongs - additions confirmed since there is a proximity between the...

  2. Inflation in expenses or bogus/inflated purchases - Since, the printouts of the hard disc clearly mentioned that "forecast" and since, the Assessing Officer in the two...

  3. Unexplained cash found during the search action - AO has not pointed out any unexplained credit in the books of account, any unexplained investment, any unexplained...

  4. Unexplained investment u/s 69 – Assessee paid up additional stamp duty on valuation - This by itself would not mean that the assessee made any unexplained investment - HC

  5. Authorization for Search – search after surrender of registration - search of another company without separate authorization held as not illegal - HC

  6. Forex losses are business losses and related to pre search period - allowed to be set off u/s 70(1) with the income surrendered during search - AT

  7. Unexplained investment u/s 69 - The aspect that this income was not declared in the original return of income cannot be a ground to automatically conclude that it is...

  8. Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the...

  9. Unexplained cash credit/debits – unexplained investment - the burden to establish the existence of investment was on the Revenue, which has not been discharged - AT

  10. Unexplained cash credit u/s.68 - double taxation - taxing the source of investment and application of investment both - When an income is taxed / addition is made to...

 

Quick Updates:Latest Updates