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 February 2020 Year 2020 This

Undisclosed purchase - purchases were not properly entered - ...

Income Tax

February 5, 2020

Undisclosed purchase - purchases were not properly entered - there was “Excess Book Stock” as compared to “Physical Stock - We do not find any perversity in the said findings of the learned Tribunal based on the admission of the Assessee himself

View Source

 

← Previous Next →

 

You may also like:

  1. Penalty u/s 271AAB - undisclosed income - there was no discrepancy found in the physical stock as well as stock recorded in the books of account despite the physical...

  2. Addition u/s. 69A - income surrendered during survey - undisclosed business income or income from other sources - What has been found during survey is excess stock of...

  3. Undisclosed income - admission of declaration of income during survey u/s 133A - without physical verification of stock and examining books of accounts, additions on the...

  4. Addition u/s 69C - When the excess stocks were found during the Survey, there is no question of allowing the Assessee to record any additional purchases because such...

  5. Additions made u/s 69B - excess stock found during survey - assessee contended that as per the books during the course of survey was without the opening stock - no merit...

  6. Rejection of books of accounts - difference in the opening stock as well as the closing stock - the assessee has shown excess opening stock - The AO did not care to...

  7. Excess stock found during survey - search conducted u/s 133A - the excess stock found during search is nothing but business stock carried on by assessee which is not...

  8. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

  9. Penalty u/s. 271AAB - value of excess stock considered to be ‘undisclosed income’ - there is no merit in the argument that the excess stock found noted in the stock...

  10. Addition on account of excess stock - difference in stock statement submitted with bank and as per books of accounts - No additions

 

Quick Updates:Latest Updates

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...
F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
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...