addition u/s 68

  • Income Tax

Agriculture income can only be estimated by considering land holding size – ITAT

Agriculture income can only be estimated by considering land holding size. Even big farmers not maintain details expected by Tax…

5 years ago
  • Income Tax

Addition u/s 68 for cash deposited in bank received from absconding debtor deleted

Addition u/s 68 for cash deposited in bank received from absconding debtor on the ground that notice sent was received…

5 years ago
  • Income Tax

Addition u/s 68 for differences in outstanding balances not confirmed by parties without doubting transactions

Addition u/s 68 for differences in outstanding balances not confirmed by parties cannot be made without doubting identity, creditworthiness and…

6 years ago
  • Income Tax

CA made a big mistake by withdrawing appeal against penalty order on winning quantum appeal

CA made a big mistake by withdrawing appeal against the penalty order on winning quantum appeal. CIT(A) was not justified…

6 years ago
  • Income Tax

Unexplained cash credit addition u/s 68 for house constructed deleted on the basis of cash in hand balance in balance sheet filed along with return 

Unexplained cash credit addition u/s 68 for house constructed deleted on the basis of cash in hand balance in balance…

6 years ago
  • Income Tax

An undated confirmation letter cannot be rejected unless proved false – ITAT

An undated confirmation letter cannot be rejected unless proved false. ITAT deletes addition made u/s 68/69 for cash deposits in…

6 years ago
  • Income Tax

Bounced cheque can not be treated unexplained credits u/s 68 – ITAT

Bounced cheque can not be treated unexplained credits u/s 68. Onus to prove identity, genuineness and creditworthiness of the party…

6 years ago
  • Income Tax

No addition on capacity ground if identity and genuineness of loan creditor is proved – ITAT

If identity and genuineness of loan transactions proved addition on capacity ground can be made only in the hands of…

6 years ago
  • Income Tax

Addition u/s 68 for not producing shareholders details deleted. In public issue company not expected to know every detail of subscribers-High Court

Addition u/s 68 for not producing shareholders details deleted as in public issue company not expected to know every detail…

6 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