S. 69A : Unexplained money-Explanation provide by the Assessee-particular entries were recorded by the AO-proper explanation provided for the same-Addition made by the AO not sustained.
S. 69A : Unexplained money-Explanation provide by the Assessee-particular entries were recorded by the AO-proper explanation provided for the same-Addition made by the AO not sustained.
S. 69A : Unexplained money-Cash deposited in bank account-Received from tuition fees-Explanation not accepted-Working of peak credit-Matter remanded-Reassessment-Approval is held to be valid-Reassessment is up held. [S. 147, 148, 151]
S. 69A : Unexplained money-Unexplained jewellery-Family members explained the source of investment-Addition is held to be not justified-Renovation of house property out of withdrawals from bank-Addition is not valid. [S. 69C, 132, 153A]
S. 69 : Unexplained investments-Failure to furnish explanation for source of funds for purchase of car-Addition is justified-Income surrendered not disclosed in the return-Addition as unexplained investment is proper-Addition on account of foreign tour expenses of minor and assessee is held to be justified. [S. 69C, 132(4)]
S. 69 : Unexplained investments-Failure to explain the source of investment-Addition is confirmed-Delay in filing of appeal is condoned. [S. 254(1)]
S. 69 : Unexplained investments-Acquisition and sale without consideration-Transferred by uncle is retransferred-Addition is held to be not justified.
S. 69 : Unexplained investments-Addition at rate of 4% assuming saving bank account interest rate earned on bank balances with HSBC, Geneva-Illogical to compute interest rate prevailing in India as there was no documentary evidence to support presumption of AO-Same amount taxed twice in two assessment years amounts to double taxation deleted addition. [S. 153A]
S. 69 : Unexplained investments-Bank deposit-Non-Resident-Two bank accounts in HSBC Geneva-Non-Resident-Income earned in Abu Dhabi and savings made in UAE as a non-resident-Addition cannot be made merely on the basis of information received from DIT. [S. 147]
S. 68 : Cash credit-Income from undisclosed sources-Bank statement of assessee showing loan from non-resident individual-During appeal proceedings filing confirmation of lender with his passport, copy of bank account and affidavit of seller-Addition not justified.[S. 69]
S. 68 : Cash Credits-Gift from father-Addition is held to be not justified.