Unexplained expenditure under section 69C - allegation that, ...

Income Tax

April 11, 2020

Unexplained expenditure under section 69C - allegation that, 18340 kilograms of wheat flour was purchased from the open market and had not shown the purchase cost of 123750 kilograms of wheat flour - the purchase of stock of such atta was reflected in the wheat purchase account and not in the atta purchase account. The Commissioner (Appeals) noted that the assessee had submitted documentary evidence to demonstrate the same, which was found to be correct - No addition can be made - HC

View Source

← Previous Next →

Unexplained expenditure under section 69C - allegation that, ...

Income Tax

April 11, 2020

You may also like:

Unexplained purchase u/s 69C - Section 69C clearly refers to the “source of the expenditure” and not to the expenditure itself - AT

Amendment in Export Policy of Wheat Flour (atta) - Notification

Additions cannot be made u/s 69C of the Act, as unexplained expenditure, towards difference between purchase price found in loose slips and amount recorded in books of account - AT

Unexplained expenditure u/s 69C - once estimation of GP has been made on the unaccounted sales it covers unexplained expenditure also to this extent - AT

Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

Entitlement to DFIA benefits - import of “Wheat Gluten” against the input product description “Wheat Flour” - It cannot be said that if the specific name of input in the...

Business Auxiliary Service - Whether process of milling/ grinding of wheat into “maida“, “suji“, “atta“ and “bran“ flour would amount to manufacture - Held yes, stay granted - AT

Addition u/s 69C – Unexplained expenditure - only because parties has given a different accounting treatment in its books of account, it cannot be said that the assessee...

Unexplained expenditure u/s 69C - expenditure of stamp duty paid for registration of property sold - additions confirmed - HC

Unexplained expenditure u/s. 69C - CIT(A) held that the AO was not justified in assuming that the assessee had made unaccounted purchases solitary on the basis that the...

Quick Updates: