Tag: addition u/s 68 books not maintained
Bank passbook / statements not books of account of assessee and hence no addition can be made u/s 68 of the Income Tax Act, 1961 ABACUS Case Law CitationABCAUS 3381 (2020) (09) ITAT Important case law relied upon by the parties:Baladin Ram v. CIT 71 ITR 427CIT vs. …
Unexplained Cash Credits in Bank Statements held taxable u/s 68. Non production of document is different from not maintaining Books of Account – High Court ABCAUS Case Law Citation: ABCAUS 2045 (2017) (08) HC The Grievance: The appellant assessee was aggrieved by the order of the Income …
Section 68 additions not applicable to deposits in bank. The bank Pass Book or bank statement are not books of account maintained by the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1159 (2017) (03) ITAT Important Case Laws Cited/relied upon: Smt. Manasi Mahendra Pitkar vs. ITO Bhaichand …
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and a sum is found credited therein – ITAT ABCAUS Case Law Citation: 956 2016 (06) ITAT Assessment Year: 2006-07 to 2010-11 Date/Month of Judgment/Order: June, 2016 Brief Facts …
