Unexplained expenditure u/s 69C - AO in the course of assessment ...

Income Tax

October 19, 2023

Unexplained expenditure u/s 69C - AO in the course of assessment had made enquiries from the vendors u/s 133(6) and since none of them responded to the same doubted genuineness of the transactions - the AO/DDIT had erred in sending notices / conducting field enquiry at their erstwhile site office at Bangalore, which had since been shut down after completion of the hotel project. - Additions made by the AO is unsustainable - AT

View Source

← Previous Next →

Unexplained expenditure u/s 69C - AO in the course of assessment ...

Income Tax

October 19, 2023

You may also like:

Addition u/s 69C - unexplained expenditure - Since the assessee purchased the stamp and made the payment through RTGS then there is no question of considering the same...

Validity of reopening of assessment - borrowed satisfaction or not - even during the course of assessment proceedings, these parties were untraceable in the enquiry...

Revision u/s 263 - unsecured loan - AO after having received relevant documents including confirmation has not taken pains to verify the veracity of loan transactions...

Addition made u/s 69C - Unexplained huge expenditure to earn Agriculture income - once the assessee has not made any investment, the addition made u/s 69C of the Act is illegal.

Addition u/s 68 - AIR information - AO before making such addition on the basis of ITS information from the office of Sub Registrar should have issued a notice u/s....

Assessment u/s 153A - Addition u/s 68 - Unsecured cash credits - documentary evidences on record have not been rebutted by the A.O. through any evidence or material on...

Disallowance of Expenses - AO erred in appreciating that nonreply of Section 133(6) notices cannot necessarily lead to disallowance of petty expenses ranging from Rs....

Addition u/s 68 - Loans unexplained - the tax authorities are not justified in placing reliance on the statement given by the director in a third party proceeding...

Unexplained expenditure u/s 69C - once estimation of GP has been made on the unaccounted sales it covers unexplained expenditure also to this extent - AT

Revision u/s 263 - non-deduction of TDS on freight - failure to furnish Form 26Q - A perusal of the file of the ld. Pr. CIT reveals an “Office Note” appended to the...

Revision u/s 263 by CIT - if the learned PCIT was of the view that the AO failed to make the necessary enquiries which should have been made during the assessment...

Revision u/s 263 - the AO also mentioned in the order that “The Documents as submitted by the assessee were examined and placed on record”, however no remark on the...

Revision u/s 263 - bogus purchases - documents like invoices, given details of stocks, payments through the banking channels and confirmation from parties examined by AO...

Additions u/s 68 - Inquiry u/s 133(6) - it submitted that, the assessee were totally kept in the dark and the enquiries were conducted behind the back of the assessee -...

Reopening of assessment u/s 147 - addition u/s 68 - Reason to believe - It cannot be said that there was no basis that the AO to frame “reason to believe” and in such...

Quick Updates: