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 February 2020 Year 2020 This

Addition on account of the peak unaccounted investment - ...

Income Tax

February 14, 2020

Addition on account of the peak unaccounted investment - addition on the basis of confessional statement - There was no material to corroborate the statement made by the assessee in the form of confession. In the case on hand, as noted above, there is no material except the confessional statement of the assessee recorded under Section 108 of the Customs Act. - No addition could be made.

View Source

 


 

You may also like:

  1. Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

  2. Profit from own chity investment - the addition made by the AO on estimate basis towards profit from own chity investment was not justifiable - AT

  3. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

  4. Addition u/s 69 - undisclosed foreign bank account - addition being the peak balance - Matter remanded back to AO for adjudication of the issue afresh stating that the...

  5. Addition on the basis of inflated stock statement submitted to bank - Addition under Section 69B - additions not permissible - HC

  6. Assessment u/s 153A – The addition was made on estimated basis and on assumptions without referring to the specific information in the seized material or any other...

  7. Addition u/s.69 towards cash deposits in the bank account - determining the peak credit - where the peak is added, the investment made by the assessee has to be added...

  8. Clandestine removal - merely on the basis of statement of employees it cannot be concluded that the imported raw material has not been used in manufacture by the Appellant.

  9. Addition u/s 68 - the additional ground raised by the assessee that addition cannot be made u/s 68 of the Act on the basis of the bank statement is rejected.

  10. The addition was made on the basis of statement recorded during the course of survey which was subsequently retracted and since no corroborative evidence was found, no...

 

Quick Updates:Latest Updates