Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    LTCG - deduction u/s 54F - Ownership of more than...     TaxTMI    Deductions u/s 80IC - audit report in Form 10 CCB,...     TaxTMI    Seeking grant of bail - Evasion of GST - The High...     TaxTMI    Territorial Jurisdiction - seeking transfer of...     TaxTMI    Eligibility for Composition scheme - ice-cream -...     TaxTMI    Characterization of receipt - amount received by...     TaxTMI    Validity of assessment order - SCN as also the...     TaxTMI    Seeking reimbursement of GST amount paid by the...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Valuation of imported goods - inclusion of royalty...     TaxTMI    Denial of Input Tax Credit (ITC) - Proof of...     TaxTMI    Rectification petition - Validity Of Order passed -...     TaxTMI    Service of SCN - Breach of principles of natural...     TaxTMI    The Ministry of Finance's recent notification...     TaxTMI    Disparity between the petitioner's GSTR 1 and GSTR...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2019 Year 2019 This

the transaction of the loan was carried out through the banking ...

Income Tax

October 29, 2019

the transaction of the loan was carried out through the banking channel. Therefore there cannot be any doubt about the genuineness of the transactions. Addition u/s 68 - The assessee in the present case has duly explained the source of money received in their hands. The assessee is not answerable to justify the source of the source of the money received by him.

View Source

 

← Previous Next →

 

You may also like:

  1. 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....

  2. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  3. Addition u/s 68 – Genuineness of transaction in shares - genuine or sham and bogus – Revenue in failing to discharge the basic onus - inquiry was not carried forward -...

  4. Additions u/s 68 - cash credit -AO doubted the creditworthiness or the genuineness of the transaction on the basis of mere presumption and suspicion without properly...

  5. Addition u/s 68 - Bogus unsecured loan - The assessee no doubt has produced bank statement/confirmation of the entities from which the money found its place in the bank...

  6. Unsecured loan obtained from companies u/s 68 – Creditworthiness and genuineness of transaction – assessee was rerouting its own funds was based on surmise - no addition - HC

  7. Addition u/s 68 - unsecured loan - ITAT, turning a blind eye, has erred in holding that, assessee has discharged his onus merely because the money was advanced through...

  8. Addition u/s 68 - unexplained loan - unexplained cash credit - once the amount of loan received through banking channel and repayment of the same along with interest...

  9. Inclusion of any sum u/s 68 in the hands of the assessee - Merely because the transactions are through bank channels, the assessee would not be entitled to the benefit - HC

  10. Additions made u/s. 68 - main reason for making the addition was that the shareholders have deposited cash in some other bank account which have come to the depositors...

 

Quick Updates:Latest Updates

F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
H: Grant of Regular Bail - Forged tax invoices - Non-existent ghost busin...
H: Recovery of tax arrears from the Former director of the Company - Atta...
H: Seeking grant for Anticipatory Bail - Allegations of availing ineligib...
F: Man power supply to Poultry Farm - Taxable or exempt
H: Seeking activation of GSTIN and granting final certificate of registra...
H: Classification of goods - rate of tax - Classic Malabar Parota - Whole...
H: Cancellation of GST Registrations - The High Court observed that the p...
H: Violation of principles of natural justice - Mode of Communication - p...
F: iterest liability
F: Credit Note
H: Cancellation of GST registration of petitioner - The High Court acknow...
H: Correct head of income - Income from leasing or letting out the proper...
H: Validity of reopening of assessment - The High court observed that the...
H: Revision u/s 263 - CSR expenses - admissibility as the deduction u/s 3...
H: Acquittal of charge u/s 276CC - respondent has failed to comply with t...
H: Denial of specific request for personal hearing - The High Court noted...
F: gst rule 96(10)
H: Deduction u/s 80P - interest income(s) derived from such nationalized/...
H: Additions based on Cash Expenditure - Disclosure were made by the appe...
N: Rate of exchange of one unit of foreign currency equivalent to Indian ...
C: Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th S...
C: Circular on Standardization of the Private Placement Memorandum (PPM) ...
C: Discontinuation of Safeguard measures on import of Isopropyl alcohol (...
N: Notify “Public Tech Platform for Frictionless Credit” as the system wi...
N: Seeks to rescinds Notification G.O. (P) No.123/2023/TAXES dated the 12...
A: The onus is entirely on the Revenue to establish existence of PE every year
A: Know the Contrasts between PF and ESIC
A: RECENT SUPREME COURT JUDGMENTS ON ARBITRATION
A: If tax liability including interest has been paid subsequently SCN can...