Section 69C

Tax Liability on Unexplained Investment/Expenditure: Implications for Taxpayers

Income Tax - Explore the heavy tax implications on taxpayers for unexplained investments and expenditures under Income Tax Act sections 69 to 69C. Learn about penalties and consequences....

Know in detail Section 68, 69, 69A, 69B, 69C & 69D of Income Tax Act, 1961

Income Tax - Explore sections 68 to 69D of Income Tax Act 1961, covering unexplained cash credits, investments, and more. Learn about legal provisions and relevant judgments....

Difference between section 68, 69, 69A, 69B, 69C and their Taxability

Income Tax - Explore the differences between income tax Sections 68, 69, 69A, 69B, 69C in India, their taxability, and implications. Understand when these sections apply, burden of proof, and tax rates if found guilty. Stay informed about transparency and compliance in financial dealings under Indian income tax law....

Section 115BBE needs Relook: Know Misuse, Consequences & Judicial Precedents

Income Tax - Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates, and relevant judicial precedents....

Undisclosed Income and its Taxability – Section 68 to Section 69D

Income Tax - Explore the tax implications of undisclosed income from Section 68 to Section 69D. Learn about tax rates, explanations, and conditions to avoid penalties. A comprehensive guide for students....

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ITAT deletes Section 69A and 69C addition due to insufficient evidence

ACIT Vs Prakash Ferrous Industries Private Limited (ITAT Chennai) - Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3)....

ITAT: Sale of Shares Capital Gains Not Sham, Deletes Section 69A Additions

Sarika Bindal Vs ITO (ITAT Delhi) - Delhi ITAT's landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights....

ITAT Mumbai restricts addition for Bogus purchases to 10% of disputed purchases

Leelaben Kantilal Parekh Vs ITO (ITAT Mumbai) - Analysis of Leelaben Kantilal Parekh Vs ITO (ITAT Mumbai) case discussing the validity of a reopening notice under section 148 and addition under section 69C for bogus purchases....

Reassessment: Invalid if AO’s Belief Lacks Bona Fides, Is Vague and Arbitrary

Pasari Casting and Rolling Mills Private Ltd Vs Income-tax Department through its National Faceless Assessment Centre (Jharkhand High Court) - Explore the Jharkhand High Court's decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside....

ITAT Orders Re-Adjudication in Bogus Purchases Case: Kalu Singh Vs ITO

Kalu Singh Vs ITO (ITAT Bangalore) - ITAT Bangalore directs re-evaluation of ex-parte assessment order on alleged bogus purchases by Kalu Singh. Detailed analysis and implications of the decision....

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Recent Posts in "Section 69C"

ITAT deletes Section 69A and 69C addition due to insufficient evidence

ACIT Vs Prakash Ferrous Industries Private Limited (ITAT Chennai)

Read the full text of the ITAT Chennai order in ACIT vs. Prakash Ferrous Industries Pvt. Ltd. where the assessment order is rejected due to oversight and typographical error under section 143(3)....

ITAT: Sale of Shares Capital Gains Not Sham, Deletes Section 69A Additions

Sarika Bindal Vs ITO (ITAT Delhi)

Delhi ITAT's landmark ruling in Sarika Bindal vs. ITO establishes that capital gains from share sales cannot be deemed sham, safeguarding taxpayer rights....

ITAT Mumbai restricts addition for Bogus purchases to 10% of disputed purchases

Leelaben Kantilal Parekh Vs ITO (ITAT Mumbai)

Analysis of Leelaben Kantilal Parekh Vs ITO (ITAT Mumbai) case discussing the validity of a reopening notice under section 148 and addition under section 69C for bogus purchases....

Reassessment: Invalid if AO’s Belief Lacks Bona Fides, Is Vague and Arbitrary

Pasari Casting and Rolling Mills Private Ltd Vs Income-tax Department through its National Faceless Assessment Centre (Jharkhand High Court)

Explore the Jharkhand High Court's decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside....

ITAT Orders Re-Adjudication in Bogus Purchases Case: Kalu Singh Vs ITO

Kalu Singh Vs ITO (ITAT Bangalore)

ITAT Bangalore directs re-evaluation of ex-parte assessment order on alleged bogus purchases by Kalu Singh. Detailed analysis and implications of the decision....

Denial of exemption based on documents seized from employees without any corroborative material unsustainable

Padmashree Dr. D.Y. Patil University Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that documents seized from employees cannot be considered as having any evidentiary value and cannot be considered to have trustworthiness, since no other corroborative material was brought on record to support the veracity of the same. Hence, documents seized from employees cannot be relied upon for denying exemption u/s...

Section 274 Income Tax Notice Must Precede Limitation Period: Delhi HC

PCIT Vs Thapar Homes Ltd. (Delhi High Court)

Delhi High Court ruling on PCIT vs. Thapar Homes Ltd. emphasizes issuing notices under Section 274 before the Income Tax Act's limitation period. Full judgment analysis....

Treating purchases as bogus unjustified if sales duly accepted

Bhartiya International Ltd. Vs DCIT (ITAT Delhi)

ITAT Delhi held that disallowance of purchases by treating it as bogus unjustified as the impugned purchases have been sold and the sales have been accepted as there cannot be any sale without purchases....

Tax Liability on Unexplained Investment/Expenditure: Implications for Taxpayers

Explore the heavy tax implications on taxpayers for unexplained investments and expenditures under Income Tax Act sections 69 to 69C. Learn about penalties and consequences....

Posted Under: Income Tax |

Expenditure towards helper allowance disallowed in absence of any supporting documents

Smt. Jothi Narayanan Vs ACIT (ITAT Chennai)

ITAT Chennai held that disallowance of expenditure towards helper allowance claimed as deduction u/s. 10(14)(i) of the Income Tax Act rightly sustained as no supporting documents submitted....

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