S. 68 : Cash credits-Unsecured Loans-Repayment of loan established-Credit entries cannot be looked into in isolation ignoring debit entries.
S. 68 : Cash credits-Unsecured Loans-Repayment of loan established-Credit entries cannot be looked into in isolation ignoring debit entries.
S. 68 : Cash credits-Acting as agent facilitating purchase of land from Farmers-Addition cannot be made as undisclosed income.
S. 68 : Cash credits-Cash deposits in bank account-Cash deposited from earlier withdrawals-Peak addition-Order of CIT(A) is affirmed.
S. 68 : Cash credits-Share application money-Additional evidence produced before the Appellate Tribunal-Matter remanded. [S. 41(1), 254(1)]
S. 68 : Cash credits-Unsecured loans-Not providing supporting documents-Peak addition is held to be justified.
S. 68: Cash credits-Deposits in bank accounts-Matter remanded for verification.
S. 68 : Cash credits-Income from undisclosed sources-Agricultural income-Additional evidence filed-Matter remanded. [S. 254(1)]
S. 68 : Cash credits-Share application money-Amount credited in Bank account and credit shown in books of account in earlier year-Shares allotted in following year-Addition cannot be made in year in which shares were allotted.
S. 68 : Cash credits-Unsecured loan-Repaid within short time-TDS deducted-Addition was deleted.
S. 68 : Cash credits-Share capital-Share premium-Parties Responding to enquiries made under Section 133(6)-Share capital and share premium is capital receipt-Cannot be taxed as income.