S. 68 : Cash credits-Share application moneys-Common directors-Detailed particulars of investors, their addresses, Permanent Account Numbers and amounts invested-Deletion of addition is justified.
S. 68 : Cash credits-Share application moneys-Common directors-Detailed particulars of investors, their addresses, Permanent Account Numbers and amounts invested-Deletion of addition is justified.
S. 68 : Cash credits-Loans not taken during the year-Not taxable as cash credit.
S. 68 : Cash credits-Cash deposits-Cash received from customers-Demonetisation-Explained the source-Addition was deleted-Donation-Receipts produced-Matter remanded. [S.80G]
S. 68 : Cash credits-Construction business-Cash received from seventeen persons-Booking cancelled cash refunded-Mere submission of Aadhaar and Permanent Account Number Card is not sufficient-Addition is justified-Amount received by cheque-Finishing work done in subsequent year-Matter remanded for verification.
S. 68 : Cash credits-Share application money-Identity, creditworthiness of investors and genuineness of transactions established-Refund of share application money to one investor overlooked-Addition is not justified. [S. 133(6)]
S. 41(1) : Profits chargeable to tax-Remission or cessation of trading liability-Pre-payment of liability under Sales Tax Defferal Scheme-Deletion of addition is held to be justified.
S. 68 : Cash credits-Share application money-Failure by share applicants to appear for inquiry in response to summons-Summons not served on some others-Addition is affirmed [S. 131]
S. 68 : Cash credits-Undisclosed source-Cash deposit in bank-Withdrawal from the Account of the wife-Source and purpose was explained-Addition was deleted. [S. 69]
S. 68 : Cash credits-Share capital-Credit worthiness was not proved-Addition was affirmed-Sundry creditors-Confirmation was filed-Remand report obtained-Deletion of addition is held to be justified.
S. 68 : Cash credits-Accommodation entries-Praveen Kumar Jain group-Mohit International-Reassessment is valid–Builder from Pune-Loan from Surat-Admission by accountant-Alleged accommodation entries-Addition is justified-Claim for cross examination was not made before the Assessing Officer-Absence of opportunity for such Cross examination cannot be a ground for quashing the assessment orders. [S. 131, 147, 148]