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 March 2020 Year 2020 This

Unaccounted income - Nature of advance money received - The ...


Court Reverses Deletion of Income Addition Due to Withheld Agreement in Assessee's Case.

March 24, 2020

Case Laws     Income Tax     HC

Unaccounted income - Nature of advance money received - The assessee successfully by with-holding the information which was in his possession, avoided the scrutiny. The agreement of authorisation was not produced during the assessment proceedings or in the appellate proceedings thereby avoiding further investigation, the same has now been produced before this Court. - Deletion of addition cannot be sustained. - HC

View Source

 


 

You may also like:

  1. The ITAT partially allowed the assessee's appeal, directing deletion of several additions and modifications to income calculations. Key outcomes include: (1) commission...

  2. Accrual of income - Addition made to the income of the assessee received by the assessee from “JDS” and its associates, treated as own income of the assessee - Despite...

  3. The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

  4. The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

  5. Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

  6. ITAT allowed the assessee's appeal, finding the Assessing Officer's addition of Rs. 9 lakhs unwarranted. The tribunal determined that the amount received by the assessee...

  7. This case deals with the applicability of Section 153, the limitation provision, to proceedings u/s 144C of the Income Tax Act. The key issues are whether the 11-month...

  8. The Karnataka High Court addressed the issue of a Sub-Registrar refusing registration of a sale certificate due to pending Income Tax dues against the borrowers. The...

  9. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  10. ITAT adjudicated a dispute involving an Asset Reconstruction Company's tax treatment of security receipts. The tribunal held that the assessee correctly followed RBI...

  11. The ITAT allowed the assessee's appeal. Regarding the transfer pricing adjustment for interest charged on loans, the ITAT upheld the CIT(A)'s deletion of the adjustment,...

  12. Addition u/s 68 - unexplained cash credit - Onus to prove - The High court noted that the assessee had provided sufficient evidence, including bank statements, cash-flow...

  13. The ITAT Jodhpur ruled on additions made based on cash received for termination of a property purchase agreement and business expenses related to disputed agreements....

  14. Profit sharing agreement - Diversion of income by overriding title or mere application of income - the assessee has been obligated by virtue of the agreement to divert...

  15. The Income Tax Appellate Tribunal partly allowed the appeal. It directed the Assessing Officer to delete the addition of Rs. 66,825/- from the assessee's agricultural...

 

Quick Updates:Latest Updates