Addition on account of deposit of cash during the demonetization ...

Income Tax

June 16, 2022

Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly appreciating the undisputed fact that he himself has accepted the books of account as well as the book results. - the impugned addition was not called for especially when the assessee’s books of account have not been rejected and all the income and expenses and the book results have been accepted except the cash deposit without there being any iota of evidence - AT

View Source

← Previous Next →

Addition on account of deposit of cash during the demonetization ...

Income Tax

June 16, 2022

You may also like:

Additions u/s 69A - Cash deposits made during demonetization period - there is no dispute that the assessee is running Petrol and Diesel retail outlet and he is the...

Cash deposited post demonetization period - AO making the addition of 30% of the cash deposited in the bank during post demonetization period - addition made by the AO...

Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

Additions against Cash deposits made during demonetization period in specified bank notes - assessee has been consistently holding huge cash balance which meets the...

Addition of cash deposited during the demonetisation period in bank account - unexplained income - taxation @ 60% as provided u/s. 115BBE - The tribunal acknowledged the...

Addition u/s 68 - unexplained cash towards cash deposits made during the demonetisation period - AO did not reject the books of accounts of the assessee and has not...

Addition u/s 69A - cash deposits during demonetization period - business of hiring of cars - A reasonable amount of cash deposits during demonetization period is out of...

Addition u/s 69A - Addition of cash deposits made by the assessee during the demonetization period - The Tribunal examined the legality of the assessment order, the...

Unexplained cash deposits during demonetization period u/s 69A - The cash deposited in the bank by the assessee during the demonetization period was out of the cash...

Reopening of assessment u/s 147 - cash deposits during demonetization period - in view of the allegation of cash deposits during demonetization period, this Court is of...

Unexplained cash credit u/s 68 - unexplained cash deposit in the bank account during post-demonetization period - Even otherwise the ld. AO should have appreciated that...

Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

Addition u/s 68 - cash deposits in the bank accounts during the demonetization period - As far as non-reliance on books of accounts and other documentation so submitted...

Addition of cash deposit made into the bank account during demonetization period - Addition made in the hands of the assessee is not justified, since the said deposits...

Cash deposit of during demonetization period - total deposits made by the assessee to his bank account was below Rs.2,50,000/- - when the CBDT Circulars clearly provide,...

Quick Updates: