Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search ...

Income Tax

February 19, 2024

Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search - The assessee provided a cash reconciliation statement, demonstrating that the cash balance remained consistent after the inter-branch transfer. The statement showed that the cash was transferred from the Kolkata branch to the Gurgaon branch, with corresponding entries in the cash books of both branches. Additionally, the cash transferred was recorded in the books with a slight delay, but the company as a whole maintained sufficient cash balance to explain the seized amount. - ITAT deleted the additions.

View Source

← Previous Next →

Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search ...

Income Tax

February 19, 2024

You may also like:

Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank...

Unexplained cash found during the search action - AO has not pointed out any unexplained credit in the books of account, any unexplained investment, any unexplained...

Addition u/s. 69A in the light of cash seized - application of higher rate of tax u/s 115BBE - Once the AO has accepted the returned income calculated on the basis of...

Adjustment of cash seized during the search - AO to re-compute the tax liability - after adjusting the seized cash from the date of request made by the assessee - AT

Addition u/s 69A r.w.s 115BBE - Unexplained cash found - the money has been found in the wrapped cover wherein the assessee has contended that the money has been...

Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

Taxability of cash deposits as unexplained u/s 69A r.w.s. u/s. 115BBE - The Tribunal found that the cash deposits made by the appellant during the demonetization period...

Unexplained Money u/s 69A r.w.s. 115BBE - Cash withdrawal from the firm as partner of the firm - along with confirmation letter given by the firm, assessee has also...

Addition u/s 69A - unexplained money - since the assessee is a non-resident Indian and except earning income from fixed deposits, there is no iota of evidence which...

Unexplained money u/s 69A read with 115BBE - acknowledge income/ notional income of House wife - cash deposit in bank during demonetization period - In the present case...

Quick Updates: