Register Daily Newsletters My Bookmarks My Queries (D. Forum) My Replies (D. Forum) My Articles My Inbox (PM) Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding

   For Sales / Support:
WhatsApp WhatsApp 9911796707
Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    SEBI Revamps Cybersecurity Framework with New...     TaxTMI    New CBIC Transhipment Air Global Bond Allows...     TaxTMI    Government Revokes Import Duty Exemptions Under...     TaxTMI    Customs Notifications Updated: Finance Act 2025...     TaxTMI    New Income Tax Rules 2025 Simplify Return Filing...     TaxTMI    GST Notifications on COVID-19 Deadline Extensions...     TaxTMI    Gold and Silver Import Regulations Updated: 13...     TaxTMI    Comprehensive Guidelines Unveiled for ESG Rating...     TaxTMI    Government Clarifies Tax Treatment for Co-Insurance...     TaxTMI    SEBI Provides Additional Time for Qualified Stock...     TaxTMI    Procedural Flaws Invalidate GST Tax Order, Restore...     TaxTMI    GST Registration Cancellation Upheld: Failure to...     TaxTMI    Contractual Delay Penalties Upheld: Liquidated...     TaxTMI    Tax Liability After Death: Section 93 Requires...     TaxTMI    Late Fee Clarification for GSTR-9C: Mandatory...     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 September 2012 Year 2012 This

Addition on account of unproved purchases - without purchases, ...


Court Rules in Favor of Assessee: Manufacturing Sales Unsustainable Without Evidence of Purchases.

September 6, 2012

Case Laws     Income Tax     AT

Addition on account of unproved purchases - without purchases, there cannot be any manufacturing of sales - in favour of assessee. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Bogus sundry creditors - Whether CIT(A) had clearly violated the provisions of Rule 46A of the Income-tax Rules, 1962, while admitting additional evidence? - The High...

  2. CIT(A) determined profit at 5.47% on total purchases. Assessee produced sufficient evidence regarding purchases, movement of goods, GST payment on transportation,...

  3. The ITAT held that the addition of Rs. 2.5 crore to the assessee's income was unsustainable. It was not established that the assessee actually received the said amount....

  4. The assessee, a pharmaceutical company, claimed deduction u/s 80-IE for its units located in Sikkim. The Assessing Officer (AO) allocated the Research and Development...

  5. The High Court held that respondent No. 3 cannot avoid deciding the petitioners' application dated 20 December 2023 seeking an advance ruling on the taxability of sale...

  6. The ITAT Hyderabad held that the capital asset, as defined in section 2(14) of the Act, must be held by the assessee and not connected with their business or profession....

  7. AO made addition u/s 69A treating assessee's cash deposits during demonetization period as unexplained income on assumption of inflated/bogus sales without any cogent...

  8. Tax collected at source (TCS) u/s 206C on sale of scrap - Revenue treated assessee as "defaulter" for non-collection of TCS u/s 206C. Held: Sale categorized into three...

  9. This case deals with the levy of deficit stamp duty and penalty in a court-conducted auction sale. The key points are: In a court-supervised auction sale, the stamp...

  10. The ITAT invalidated digital evidence seized during a search operation, specifically a pendrive, as inadmissible under Section 65B of the Indian Evidence Act. The...

  11. HC allowed the appeal, setting aside ITAT's order rejecting additional evidence under Rule 29. The court found ITAT committed a legal error by summarily dismissing the...

  12. Insurance company computing income u/s 44 is not required to include profits from sale of investments for periods prior to 01.04.2011 as per Rule 5, aligning with...

  13. Seizure of tobacco and loss of the same due to file - Liability of central excise department - Whether the Trial Court has committed error of facts and law in passing...

  14. Unexplained cash credits u/s 68 and the applicability of Section 115BBE for taxing such additions. The key points are: The Assessing Officer (AO) issued notices u/s...

  15. The appeal addressed the scope of the terms "manufacture" and "production" u/s 80IA of the Income-tax Act. The court held that the conversion of blocks into polished...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
F: Gold Import Strategy: Navigating Trade Agreements, Tariff Quotas, and ...
F: Tax Implications of Unpaid Scrap Sale: Bad Debt Write-Off and TCS Comp...
F: Developer Liable for GST on Unbooked Flats via Reverse Charge Mechanis...
F: Investment Managers' Carried Interest Faces 18% GST as Service Fee, No...
F: E-invoicing Not Mandatory for Business with 4.5 Crore Sales and Uninvo...
H: Revised ITR-3 Form Introduced for AY 2025-26, Updating Income Tax Fili...
H: SEBI Amends Stock Exchange Rules: Cooling-Off Periods for Directors In...
H: Trustees Now Required to Disclose Litigation and Debt Instrument Risks...
H: Customs Mutual Administrative Assistance Expanded: New Zealand and Mad...
H: RBI Extends Diamond Dollar Account Qualification Period from 2 to 3 Ye...
T: Carbon Credit Income Now Taxed at 10% Flat Rate, Disallowing Deduction...
T: Innovative Patent Royalty Tax Cut: 10% Rate for Indian-Developed Paten...
F: Multi-State Company Navigates Rent Invoice Compliance Under GST Rules ...
T: Unexplained Income Tax Rule Imposes 60% Levy, Blocks Deductions to Pre...
T: New Tax Rules Limit Anonymous Donations for Non-Profits, Requiring Tra...
A: Landmark Ruling: GST and Customs Arrest Powers Require Substantive Evi...
A: Tax Authorities Granted Five-Year Window for Assessment Under CGST Act...
A: Electronic Appeals and Digital Proceedings: GSTAT Streamlines Tax Disp...
A: Digital Transformation of NGO Tax Exemptions: Simplified 10A/10AB Regi...
A: Used Oil Recycling Mandate Requires Producers to Collect, Recycle, and...
A: Spotify Wins Trademark Battle Against 'Potify' App, Blocking Registrat...
A: Battery Producers Must Implement Comprehensive Waste Collection, Recyc...
A: Used Oil Waste Management in India: Comprehensive Legal Framework Bala...
A: India's Plastic Waste Management Rules Mandate Extended Producer Respo...
A: Manufacturers Must Collect and Recycle Vehicle Tyres Under New Extende...
A: Traffic Fine Disputes in India: Empowering Citizens to Challenge Wrong...
A: E-Waste Management in India: Comprehensive Regulatory Framework Promot...
H: Firm's Multi-State Registration Sparks Legal Scrutiny: GST Appeal Proc...
H: Technical Filing Glitch Overturned: GST Appeal Reinstated After Manual...
H: Landmark GST Ruling: Petitioners Win Right to Retroactive ITC Refund R...