S. 69A : Unexplained money-Salary income-Cash in hand was deposited in bank-Addition cannot be made as unexplained money. [S. 153A]
S. 69A : Unexplained money-Salary income-Cash in hand was deposited in bank-Addition cannot be made as unexplained money. [S. 153A]
S. 69A : Unexplained money-Cash found at office premises-Group companies-Accounted in the books of account-Addition is held to be not valid. [S. 132]
S. 69 : Unexplained investments-On money-Purchase of property from developer-Charge sheet filed by the Central Bureau Of Investigation (CBI) in case of developer-No additional evidence was brought by the revenue-Deletion of addition is held to be justified.
S. 68 : Cash credits-Share application money-All 16 Investor companies replied to notice u/s. 133(6) of the Act-Managing Director was not produced due to ill health-Matter remanded to the Assessing Officer-Order passed by the CIT(A) was cryptic and not speaking order-Order was set aside. [S. 131(1(d), 133(6), 250]
S. 68 : Cash credits-Loan-Revenue has accepted loan as genuine in earlier year-News reports in public domain stated that enforcement Directorate stated net worth of party was more than Rs. 1,000 Crores-Addition is held to be not valid. [S. 153A]
S. 68 : Cash credits-Loans-Alleged accommodation entries-Opportunity of cross examination was not provided-Summons was not issued-Loans received and repaid by account payee cheques-Tax was deducted at source-Addition was held to be not valid-Interest on said loans are allowable as deduction. [S. 36(1)(iii), 133(6)]
S. 68 : Cash credits-Share application money-Summons Issued twice returned unserved-Report of inspector that no companies existed at given address-Forfeiture of share application money in immediately succeeding year-Addition is held to be proper.
S. 68 : Cash credits-Loose sheets and data retrieved from mobile phones are not books of account-It may be assessed as business receipts and not as cash credits. [S. 2(12A)]
S. 56 : Income from other source-When the Assessee has adopted DCF method, one of the methods prescribed by the Act to determine fair value, then the AO cannot discard the same and adopt other method-The matter was restored back to the file of AO for afresh decision. [S. 56(2)(vii)(b), R. 11UA]
S. 56 : Income from other sources-Not applicable where the sum has been received from non-resident-Addition was deleted. [S. 56(2)(viib), 68, Companies Act, 2013, S. 102]