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Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Penalty u/s 271D - share application money - Since there is ...

Income Tax

September 20, 2012

Penalty u/s 271D - share application money - Since there is nothing on record to suggest that the receipt of application money is in the nature of loan or deposit the provisions of section 269SS are not attracted. - AT

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  1. Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

  2. Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in...

  3. Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

  4. Penalty u/s 271D - violation of provisions u/s 269SS - cash receipt claimed as advance against sales - recording of the satisfaction by the AO is sine qua non for...

  5. Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

  6. Treatment of Share Application money as loans & Advances(269SS) - Penalty under 271D - Share application monies received by a company, pending allotment of shares, do...

  7. Addition u/s.68 - share capital & premium - Nothing on record suggest any money got exchanged between the assessee and the investor - as per Ld. AO’s finding, the...

  8. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

  9. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

  10. Addition u/s 68 - share application money alongwith premium - in response of the AO notices u/s 131/133(6) all investors having replied and support of the correctness of...

  11. Share application money - additions u/s 68 - Other than the share application forms, no other agreement between the respondent and third companies had been placed on...

  12. Penalty u/s 271D - contravention to the provision of section 299SS - cash gift received from the father - there is no allegation that the assessee has introduced...

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  14. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  15. Initiation of CIRP - NCLT admitted the application - Financial Creditors - Share Application Money in the event of non-allotment of shares - Loan/Debt or not - Share...

 

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