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 March 2013 Year 2013 This

Supreme Court disapproved the practice of making additions in ...

Income Tax

March 7, 2013

Supreme Court disapproved the practice of making additions in the assessment on mere suspicion and surmises or by taking note of the “notorious practice” prevailing in trade circles - HC

View Source

 


 

You may also like:

  1. Additions u/s 68 - cash credit -AO doubted the creditworthiness or the genuineness of the transaction on the basis of mere presumption and suspicion without properly...

  2. Non disapproving the documents furnished by the assessee to discharge the initial burden placed upon it u/s 68 - additions deleted - AT

  3. Assessment u/s 153C - Addition u/s 69A - Certain incriminating documents/information contained in the seized material pertained to the assessee, the proprietor found...

  4. Addition made on outstanding liability - Labour charges as bogus – suspicion howsoever grave, cannot take place of proof - AT

  5. Reopening of assessment u/s 147 - unexplained cash deposits - the deposit in the bank account per se cannot be income of the assessee. It is mere suspicion of the...

  6. Practice of assessment of imports of Petroleum products under CTH 2710-Reg - Trade Notice

  7. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

  8. Addition u/s. 69B - penny stock - mere suspicion that the assessee has invested in alleged penny stock scrip cannot be made basis of addition u/s. 69B of the Act. In the...

  9. Additions u/s 69A - Denial of exemption u/s 11 - Receipt of unaccounted capitation fees in cash - Post search Assessment of trust - Ld. CIT(A) had rightly held that,...

  10. Penalty u/s 271(1)(c) - addition made on protected assessment - addition in this case was made on protected assessment/addition on estimated basis which is against the law - AT

 

Quick Updates:Latest Updates