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Income Tax - This Article discusses Tax Treatment of Cash Credit, Unexplained investments, Unexplained money, Amount of investments not fully disclosed in books of account, Unexplained expenditure and Amount borrowed or repaid on hundi in cash under section 68,Section 69, Section 69A, Section 69B, Section 69C and Section 69D respectively of Income Tax...
Read MoreIncome Tax - Section 68 incorporates only a rule of evidence, placing the onus of proof on the assessee. There have been hardly any amendments in this section since its introduction....
Read MoreIncome Tax - Sub-section (2) of said section provides that no deduction in respect of any expenditure or allowance or set-off of any loss shall be allowed to the assessee under any provision of the Act in computing his income referred to in clause (a) of sub-section (1)....
Read MoreSun Steel Industries (P) Ltd. Vs DCIT (ITAT Kolkata) - Where assessee had not proved actual rendition of the foundation services and also whether alleged service providers possessed necessary expertise and infrastructure to render the foundation services, AO was justified in making addition of payments made to them, under section 69C....
Read MoreSoman Sun Citi Vs JT. CIT (ITAT Mumbai) - This appeal, filed by the assesseee, being ITA No. 2960/Mum/2016, is directed against the appellate order dated 16.02.2016 passed by learned Commissioner of Income Tax (Appeals)-3, Thane (hereinafter called the CIT(A)), for assessment year 2011-12, appellate proceedings had arisen before learned CIT...
Read MoreIqbal Ahmed Khalil Ahmed Subedar Vs ITO (ITAT Mumbai) - These two appeals, filed by the assessee, being ITA No. 2135/Mum/2013 & I.T.A. No. 4896/Mum/2015 for assessment year 2009- 10 and 2008-09 respectively are directed against two separate appellate orders dated 22.01.2013 and 25-02-2015 respectively passed by learned Commissioner of Income Tax (Appeals...
Read MoreITO Vs. Prompt Toys (P.) Ltd. (ITAT Mumbai) - The assessee further contended that additions cannot be made towards purchases merely on the basis of third party information ignoring the evidences filed to justify purchases. The assessee further contended before the lower authorities that the assessing officer neither pointed out any error or dis...
Read MorePhool Singh Vs. ACIT (ITAT Delhi) - Merely because 133(6) notices issued to the party returned un-served though it was the same address, which was supplied by supplier while filing its income tax return, no fault can be put on the shoulder of assessee....
Read MoreSun Steel Industries (P) Ltd. Vs DCIT (ITAT Kolkata) -
Soman Sun Citi Vs JT. CIT (ITAT Mumbai) -
Iqbal Ahmed Khalil Ahmed Subedar Vs ITO (ITAT Mumbai) -
ITO Vs. Prompt Toys (P.) Ltd. (ITAT Mumbai) -
Phool Singh Vs. ACIT (ITAT Delhi) -
ITO Vs. Shri Ravindra Pratap Thareja (ITAT Jabalpur) -
Dy. CIT Vs. Fagioli India (P) Ltd. (ITAT Mumbai) -
