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 October 2020 Year 2020 This

Bogus sundry creditors - Assessee has provided details of the ...

Income Tax

October 27, 2020

Bogus sundry creditors - Assessee has provided details of the creditors, which should have been examined by both the authorities below but they did not do so for proving the genuineness of the creditors. As per our considered opinion, the assessee discharged his liability as cast upon him and now the duty shifted on the revenue authorities for the verification of the genuineness of the creditors, which are lack in this case. - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 / 69C - unverified/non-existent /bogus sundry creditors - Assessee also cannot get scot free by not producing the sundry creditors and making purchases...

  2. Addition u/s 68 - Credit balance pertaining to sundry creditors - by disallowing only balance outstanding of these parties as at the end of the year, the Revenue has...

  3. Addition u/s 41(1) - outstanding balances of sundry creditors and other liabilities - Unconfirmed bill, advance from customers and sundry creditors which are static...

  4. Additions on the ground of Bogus sundry creditors - since for the earlier years, assessee had opted for presumptive taxation under section 44D of the Act and therefore,...

  5. Write back of sundry creditors - assessee claimed relief of write back of sundry creditors on account of sanction granted by the BIFR - The assessee made Miscellaneous...

  6. Validity of assessment under section 153A - addition u/s 68 - By simply referring to General findings of investigations wing at Kolkata entry operators providing bogus...

  7. Addition u/s. 41(1) - bogus creditors - cessation of liability in case of outstanding of above sundry creditors - the given facts and circumstances suggests that the...

  8. Addition of sundry creditors - Assessee has given the details about the PAN of that particular creditor and also made TDS payment - Merely because confirmation has not...

  9. Addition u/s 68 - In the given case, AO has not carried out any useful investigation but merely followed the previous pattern of investigation and completed the...

  10. Disallowance of expenditure incurred under Voluntary Retirement Scheme (VRS) - AO has not examined the details as per the directions of the DRP and has made disallowance...

  11. Revocation of cancellation of Registration - bogus firm or not - by merely describing the assessee firm “bogus”, the respondent authority did not make known to the...

  12. Revision u/s 263 - Order of the AO in respect of unsecured loans, sundry creditors/liabilities and sundry debtors accepted by the AO is erroneous and prejudicial to the...

  13. Addition u/s 41(1) - proof of seizure of Sundry Creditors - except making the averments to the effect that these Sundry Creditors were paid, no documentary proof thereof...

  14. Rejection of Refund claim - Whether the service provided by the appellant to GSPHCL is service provided to a governmental authority? - The GSPHCL is a 100% owned by...

  15. Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

 

Quick Updates:Latest Updates