Before you Borrow Money- Know about the source of the Lender
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Before you Borrow Money- Know about the source of the Lender Conversion of black money through loans and advances has…
section 68
No Sec. 68 additions if assessee routed its own accounted money back via share capital/premium: Delhi HC
No Sec. 68 additions if assessee routed its own accounted money back via share capital/premium: Delhi HC PCIT v. Agson…
Even if the assessee does not maintain books of account, under general principles Assessee is bound to explain the nature and source of a receipt.
Even if the assessee does not maintain books of account, under general principles Assessee is bound to explain the nature…
No addition u/s 68 Sustainable if the creditors are paid in subsequent years through banking channel
No addition u/s 68 Sustainable if the creditors are paid in subsequent years through banking channel ITAT Bangalore in the…
If the taxpayer had substantiated with evidence regarding identity and creditworthiness of share applicants and genuineness of transactions, no addition u/s 68 was called for.
If the taxpayer had substantiated with evidence regarding identity and creditworthiness of share applicants and genuineness of transactions, no addition…
Tax Treatment of Unexplained money, investments not fully disclosed in books of account, Unexplained expenditure and Amount borrowed or repaid on hundi in cash
Tax Treatment of Unexplained money, investments not fully disclosed in books of account, Unexplained expenditure and Amount borrowed or repaid…
Alleged bogus LTCG of penny stock : Probability of preponderance without any direct evidence to prove the transactions as non-genuine or sham or demonstrating appellant’s involvement in any kind of manipulation is illegal and cannot sustain.
Alleged bogus LTCG of penny stock : Probability of preponderance without any direct evidence to prove the transactions as non-genuine…
Validity of Search and seizure assessment if AO issued notice under section 153C instead of section 153A
Validity of Search and seizure assessment if AO issued notice under section 153C instead of section 153A Short Overview Where…
No additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP
No additon u/s 68 if assessee failed to produce persons who had applied as shareholders- SC dismissed SLP IT: SLP…
Concealed consideration on sale of Agricultural Land is not Agricultural Income – ITAT
Agricultural Income ACIT vs. Mohinder Singh (ITAT Chandigarh) S. 2(1A)/ 68: An assessee who understates the consideration received for sale…
Even income taxable under section 68 eligible for exemption u/s 10(23C)(v)
section 68 Asstt. CIT v. Gurudatta Shikshan Sanstha in section 68 Decision: In assessee’s favour. Exemption under section 10(23C)–Allowability– Deemed income under…
Bogus LTCG from Penny stocks
Sanjay Bimalchand Jain vs. Pr CIT (Bombay High Court) GIST: Bogus LTCG from Penny stocks: The assessee has not tendered…
