accommodation entries

  • Income Tax

Income Tax assessment order passed u/s 143(3) supports that party was not bogus – ITAT

Income Tax assessment order passed u/s 143(3) supports that party was not bogus, very much existed and carried out business…

1 year ago
  • Income Tax

Phenomenal LTCG in short period possible only through a colorable device

Phenomenal LTCG in short period possible only through a colorable device – ITAT upheld taxing LTCG as income from undisclosed…

1 year ago
  • Income Tax

Debit entries also to be considered for cash credit u/s 68. Credit entries can’t be looked in isolation

Debit entries should also be considered for cash credit entries u/s 68. Credit entries cannot be looked into isolation ignoring…

2 years ago
  • Income Tax

Reassessment bad as four weeks time not given after rejection of objections to reopening

Reassessment held bad in law as assessee not given four weeks time to seek legal remedy after rejection of objections…

3 years ago
  • Income Tax

Addition for accommodation entries merely based on statement of investors ignoring documents furnished invalid-High Court

Addition for accommodation entries merely based on statement of investors and without controverting the documents furnished invalid-High Court Prelude: The…

6 years ago
  • Income Tax

CA acting as middleman arranging accommodation entries-Commission income estimated @ 1% upheld

CA acting as middleman arranging accommodation entries of share capital-premium through fictitious companies. Commission income estimated @ 1% upheld ABCAUS…

7 years ago
  • Income Tax

Addition us 68 for accommodation entries-don’t shoot the messenger

Addition us 68 for accommodation entries-don't shoot the messenger. Addition restricted to commission earned on accommodation entries-ITAT  ABCAUS Case Law…

7 years ago
  • Income Tax

Reopening us 147 for accommodation entries quashed. AO did not describe how and what manner assessee received entries from operators and paid cash

Reopening us 147 for accommodation entries quashed. AO did not describe how and what manner assessee received entries from operators…

8 years ago