Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Levy of GST - Royalty- seigniorage fee paid by the...     TaxTMI    Levy of Penalty u/s 129(3) of the Central Goods and...     TaxTMI    Levy of penalty - goods were undervalued - The High...     TaxTMI    Cancellation of GST Registration - Legal Validity...     TaxTMI    Control of income-tax authorities - U/s 118 -...     TaxTMI    Amendment to Regulation 3.1 of FEMA, Mode of...     TaxTMI    Amendment to Regulation 4 of FEMA, Mode of Payment...     TaxTMI    Securities and Exchange Board of India (Investment...     TaxTMI    Securities and Exchange Board of India (Research...     TaxTMI    LTCG - year of assessment - The Tribunal noted...     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Extinguishment of liability as per order of NCLT -...     TaxTMI    Violation of principles of natural justice -cryptic...     TaxTMI    Determination of time limit for filing of Appeal...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Addition u/s 68 - unexplained unsecured loan - ...

Income Tax

November 22, 2023

Addition u/s 68 - unexplained unsecured loan - capacity/creditworthiness of creditor - The creditor has given loan to assessee out of proceeds held in Bank A/c from clearing of cheque and not from his income. Therefore, it is prima facie wrong to judge the capacity/creditworthiness of creditor with his income. - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Addition u/s 68 on account of unsecured loans from directors - Assessee has failed to show creditworthiness of both the lenders. - additions confirmed.

  2. Additions u/s 68 - unexplained unsecured loans - CIT(A) had rightly deleted the addition towards loans received from the companies in the same group

  3. Additions u/s 68 - Merely by providing the Income Tax Return and PAN number is not enough to establish the creditworthiness and genuineness of the unsecured loans.

  4. Unsecured loan obtained from companies u/s 68 – Creditworthiness and genuineness of transaction – assessee was rerouting its own funds was based on surmise - no addition - HC

  5. Unexplained credit u/s 68 - unsecured loan from registered NBFC and other companies - revenue failed to prove that loan were bogus - additions deleted.

  6. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  7. Additions u/s 68 - Unsecured loans - partnership firm - Making addition of unsecured loans relating to the partnership firm in the hands of the assessee is bad in law...

  8. Addition of unsecured loan u/s 68 - interest free unsecured loan received from a close friend in Dubai to fund ongoing project with a condition that amount will be...

  9. Addition u/s 68 - unsecured loans - the AO did not acknowledge the confirmation along with PAN number, ITR and bank account of the appellant which were very relevant...

  10. Addition u/s 68 - unexplained cash credit - unsecured loan - the assessee has not been able to establish the creditworthiness of lender nor has he been able to establish...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
H: Admission of Section 7 application - Assignment Agreement - Proper sta...
F: CMP 08 and Annual return
F: Addition of unaccounted supplies in the Returns
H: Liquidation of corporate Debtor - Eligibility of the Appellant to subm...
H: Short payment of Central Excise Duty - The Appellate Tribunal conclude...
A: Roving Judgements!
A: Assessee would be considered as electronic commerce operator when digi...
H: Recovery of dues by adjusting them against the refund amount - Delay i...
H: Dishonour of Cheque - Vicarious liability of the Company Secretary - T...
F: Section 17(2) Rule 42
F: Refund of IGST Charged and collected from Foreign Customer on Export o...
F: Penalty under Section 73(1) of CGST Act, 2017
F: QUANTUM OF PENALTY UNDER THE IGST ACT
F: refund of amount deposited through DRC-03
F: ITC of FY 2017-18 blocked
F: Export Services without LUT
A: DISTINCTION BETWEEN DEATH OF PLAINTIFF AND DEFENDANT DURING PENDENCY O...
A: A Comprehensive Guide to Inter-State and Intra-State Supply
A: Intermediary Services Nexus with Export of Services
A: Assessment Order not valid when Petitioner could not file reply due to...
C: Instruction on review of requirement of G-Card holders at a Customs St...
A: Supreme Court orders about alleged bogus capital gains on alleged penn...
C: Verification of authenticity and genuineness of Certificate of Origin ...
H: Levy of interest and penalty - transition of amount wrongly claimed as...
C: Acceptance of Electronic Certificate of Origin (e-CoO) issued by the i...
H: Levy of penalty @200% - e-way bill which was generated by the appellan...
H: Eligibility for Input Tax Credit - Failure to report outward supply - ...
H: Seeking cancellation of the GST registration - The case involved a pet...
H: Reference to Departmental valuation officer [DVO] without first reject...
H: Validity of reopening of assessment - Validity of grant the approval b...