S. 69A : Unexplained money-Undisclosed professional receipts-40% of expenses are allowed on estimate basis-Interest income from bank addition is justified. [S. 28(i), 37(1)]
S. 69A : Unexplained money-Undisclosed professional receipts-40% of expenses are allowed on estimate basis-Interest income from bank addition is justified. [S. 28(i), 37(1)]
S. 69 : Unexplained investments-Income from undisclosed sources-Assessment-Bogus purchases-Order of CIT(A) restricting disallowance of purchases to 5 per cent of alleged bogus purchases is affirmed. [S. 143(3)]
S. 68 : Cash credits-Sale of ancestral gold and savings-Addition is deleted-Reassessment notice is not justified. [S. 147, 148]
S. 68 : Cash credits-Search and survey-Demonetization-Cash deposits-Negligible stock-in-trade-Annonymous buyers-Addition is affirmed. [S. 131, 292C, Indian Evidence Act, 1872, S. 26, 31, 34, 92]
S. 68 : Cash credits-Creditworthiness and genuineness of transaction is established-Addition is deleted.
S. 68 : Cash credits-All parties appeared in response to summons and submitted income tax return and bank statements-Order of CIT(A) deleting the addition is affirmed.
S. 68 : Cash credits-Explanation of source of deposit is accepted partially and remaining addition is affirmed.
S. 68 : Cash credits-Payment of insurance premium-Payment though bank-Addition is deleted.
S. 68 : Cash credits-Share application-Furnished names, address PAN, copies of bank account etc of investor companies-Addition is deleted.
S. 68 : Cash credits-Sale of shares-Penny stock-Long term capital gains-Report of investigation wing from Kolkata-Pine Animation Ltd-Purchase of shares, payment for purchase of shares through banking channel–Genuineness of transaction is proved-Cannot be assessed as cash credits-Entitle to exemption. [S. 38, 45]