Undisclosed debit entries in the impounded books - investment in ...

Income Tax

October 28, 2023

Undisclosed debit entries in the impounded books - investment in advances for properties - No such evidence furnished before the CIT(A). It is for the first time, the assessee filed such affidavit before this Tribunal, in our opinion, is only to protract the litigation. The assessee ought to have filed the same before the AO during the course of assessment proceedings in 2016 and as well before the CIT(A) in 2017. - Additions confirmed - AT

View Source

← Previous Next →

Undisclosed debit entries in the impounded books - investment in ...

Income Tax

October 28, 2023

You may also like:

Penalty u/s 271AAB - undisclosed investment - the assessee is a salaried person who is not required to maintain any books of accounts and there is no mechanism to report...

Deletion of undisclosed investment in fixed deposits – merely for the reason that there was a mistake in making entries, a disclosed investment cannot be treated as...

Undisclosed investment in furniture and fixture - surrender in survey subsequently retracted - onus of proof - If the assessee has denied making any such investment...

Block assessment - Block period - Addition on account undisclosed investment based on diary of the assessee - The money so advanced will tantamount to be the investment...

Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating...

Addition u/s 68 - accommodation entry - issue of shares for consideration other than 'cash' - "Adjustment by way of book entry" can only be in the case where there is...

Payment of Service tax was not made through challan instead the payment was made through debit entry in the Cenvat credit account - cenvat credit allowed on the basis of...

Unexplained investments u/s 69- Tribunal deleted the addition - The term assessed being flexible, it bears very comprehensive meaning. Therefore, under Section 158BB of...

Undisclosed investment in FD - CIT (A) has rightly noted that the increase of her investment in FD with Bank of India was not her undisclosed income - AT

Addition u/s 56(2)(ix) - Receipt of advances against the property - In factual matrix, the advance amount was never be forfeited or adjusted in the capital account of...

Permitted sectors, entry routes and sectoral caps for total foreign investment -FDI - FEMA - New Regulations

Adjudication of Advance Bill of Entry - Commissioner can assessed the Advance Bill of Entry as prayed by the assesse in accordance with law - AT

Assessment u/s 153C - Undisclosed investment u/s 69 r.w.s 115BBE - Whether incriminating material belonging to Assessee found during the course of search on the basis of...

Addition u/s 69A - survey action under Section 133A - Addition based on loose paper in search - There is no concrete evidence which has been brought on record by the...

Bad debts claimed u/s 36(2)(i) - Assessee debited ‘Amount written off paid against advance of land’ - As per accounting policy and general business practice any nature...

Quick Updates: