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If sufficient withdrawals is proved then source of investment is proved
Huge withdrawal was for a purpose and objective. From the beginning the explanation given was that withdrawal was to pay earnest money for purchase of immovable property, which deal did not fructify. Explanation given was not fanciful and sham story….
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When any document or details was filed by assessee in pursuance to direction of CIT(A) then there would be no violation of Rule 46A.
When any document or details was filed by assessee in pursuance to direction of CIT(A) then there would be no violation of Rule 46A. INCOME TAX OFFICER vs. WAII INFRA PRIVATE LIMITED GAUHATI TRIBUNAL N.S. SAINI, AM & PAVAN KUMAR…
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Recording of satisfaction is sine qua non for initiating proceedings u/s. 153C .
Recording of satisfaction is sine qua non for initiating proceedings u/s. 153C . In absence of any material to show receipt of consideration by assessee, no addition to income of assessee. In absence of any material to show that any…
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In case of completed assessment, assessment under section 153A only on the basis of the recovery of incriminating material found during the course of search
friends, on 16.3.2018, Delhi Tribunal held in In case of completed assessment While making assessment under section 153A only on the basis of the recovery of incriminating material found during the course of search ASSISTANT COMMISSIONER OF INCOME TAX vs….
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Applying 12AA after long period of incorporation-the CIT(E) had validly the benefit of going through the genuineness of the activities of the society on touchstone of the assessee’s Income and expenditure accounts for the preceding three years
Friends, The decisions relied by the ld. AR to buttress the contention that the ld. CIT (E) should confine himself to the objects of the trust and not the actual activities are not relevant in the present context when the…
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किसी से उधार लिए हुए रुपए के संबंध में उसकी creditworthiness, genuineness उसके साथ हुए एग्रीमेंट को नहीं प्रस्तुत करने पर धारा 68 में एडिशन हो जाएगा
why the so-called creditors would lend such huge unsecured, interest free loans – that too without any agreement. In the absence of the same, the creditors fail the test of creditworthiness and the transactions fail the test of genuineness. Liable…
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