Home Highlights September 2012 Year 2012 This

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1. Block assessment - The notice u/s 158BC was issued by AO on 5th May, 2000, which was served on 08th May, 2000. The time limit for passing assessment for Block Period was...

2. Assessment u/s 147 - Additions u/s 68 - The regular assessment and block assessment are both separate proceedings and even can run parallel - assessee has failed to...

3. Additions towards Undisclosed profit made on the basis of the seized documents - ITAT deleted the additions - Now, look at the reasons given by the tribunal. It cast a...

4. Addition u/s. 68 - cash credit - assessee's onus to prove genuineness of the transaction - share capital and share premium - the source of source of source is proved by...

5. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

6. Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

7. Unexplained investment u/s. 69 - Non maintenance of books of accounts - When the AO accepted part of her explanation and required the assessee to prove the sources of...

8. Assessment of trust - addition being loans from three parties - It is well settled Law that assessee need not to prove source of the source. A.O. entirely on different...

9. Addition u/s 68 - genuineness and credit worthiness - It is evident that the assessee though has disclosed the source of the deposit but could not establish the nature...

10. Addition u/s 68 - Unexplained credit - scope of amended provisions of section 68 - onus to prove source of source - Although, the issue before us pertains to assessment...

11. Addition u/s 68 - increase in share capital and share premium - As source of source is proved by the assessee in the instant case though the same is not required to be...

12. Unexplained cash credit u/s. 68 - primary onus that lay on the assessee to establish the identity, genuineness and creditworthiness of the assessee is being proved...

13. Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

14. Denial of tax treaty benefit due to lack of commercial substance in Singapore - Benefit of DTAA - In any event, the ld. AO in all fairness ought to have accepted the...

15. Penalty for non deduction of tax at source - bona fide belief proved - penalty set aside - AT