Protective assessment - Addition u/s 69/69C - Unaccounted ...

Substantive Additions Confirmed by CIT(A) for Three Entities; Protective Additions Against Assessee Deleted, No Further Appeal.

July 2, 2022

Case Laws Income Tax AT

Protective assessment - Addition u/s 69/69C - Unaccounted investment ad unaccounted commission - CIT(A) has confirmed the substantive additions on the three entities so the protective addition made in the hands of the assessee has been deleted by him which action of the CIT(A) does not require any interference from our side because we note from the AO’s report placed before us in respect of this appeal that these three entities in whose hands the substantive additions have been confirmed by the CIT(A) by his order has not preferred any further appeal against the action of Ld. CIT(A) before this Tribunal, so the impugned action of CIT(A) deleting the protective addition in the hands of assessee company is upheld. - AT

View Source

← Previous Next →

Protective assessment - Addition u/s 69/69C - Unaccounted ...

Substantive Additions Confirmed by CIT(A) for Three Entities; Protective Additions Against Assessee Deleted, No Further Appeal.

July 2, 2022

Case Laws Income Tax AT

You may also like:

Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

The ITAT ruled on the addition u/s 68 of share capital/premium from three dummy entities related to RPS Group. The addition was substantive for RPS Group and protective...

The ITAT Kolkata held that the addition on a protective basis made by the Assessing Officer in the hands of the assessee, concerning a loan received from a director and...

Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

The Appellate Tribunal considered the issue of condonation of delay in filing appeals, which exceeded 400 days, due to unexplained cash deposits and protective additions...

Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

Protective addition made by Assessing Officer was not sustainable as substantive addition did not survive in concluded assessment proceedings of related party. CIT(A)...

Protective assessment - Addition in the hands of the Assessee Firm on protective basis - since the substantive addition has not been survived on account of being time...

The Assessing Officer (AO) made additions u/ss 69C and 68 for undisclosed credit card expenditures in foreign currencies based on material found during a survey. The...

Unaccounted investment - Addition in the hands of the assessee on protective basis on account of expenses u/s. 69C - We find no infirmity in the order of learned...

Protective addition cannot be converted into substantive addition in the hands of an assessee merely because substantive addition was not made in the hands of another...

Addition of protective assessment - CIT (A) has clearly mentioned that the impugned amount related to the company and the protective addition was solely u/s 179 of the...

The assessing officer made protective additions u/ss 69, 69C, and 68 for amounts already considered by the firm where the assessee was a partner. However, the settlement...

Protective assessment - no addition can be made in the hands of the assessee - the protective addition made in the hands of the assessee for these three assessment...

The assessee was allowed to claim depreciation on assets held in the name of directors, based on the principle of beneficial ownership recognized by the Supreme Court....

Quick Updates: