Tag Archive: unexplained cash credit

Section 68 Cash deposits in the bank and AO made the addition u/s 68 instead of u/s 69, and hence the addition made by the AO is unsustainable.DIRISALA BALA MURALI vs. ITO. ITAT VISHAKAPATNAM on Jul 29, 2020. https://www.bpmundraca.com/it-cases-232-2021/

Section 68 Cash deposits in the bank and AO made the addition u/s 68 instead of u/s 69, and hence the addition made by the AO is unsustainable.DIRISALA BALA MURALI vs. ITO. ITAT VISHAKAPATNAM on Jul 29, 2020 As…
Read more

148, 68, 69, AY 2011-12, In Favour of Assessee, VISAKHAPATNAM BENCH

Section 69A:क्या होगा जब बुक्स की क्रेडिट एंट्री के बारे में करदाता क्रेडिटवर्थनेस प्रमाणित कर देता है और कर निर्धारण अधिकारी अपनी फाइंडिंग को बिना बताए आय में एडिशन कर देता है? ITAT Delhi ने 10 नवंबर 2020 को VIKASH vs.ITO

VIKASH vs. INCOME TAX OFFICER IN THE ITAT DELHI BENCH ‘G’ SUDHANSHU SRIVASTAVA, JM & DR. B. R. R. KUMAR, AM. ITA No. 869/Del/2017 Nov 10, 2020 Section 69A AY 2011-12 Decision in favour of: Matter remanded Section 69A:क्या होगा…
Read more

69A-Unexplained money, AY 2011-12, Delhi, In Favour of Assessee, In favour of remanded back, Unexplained Money-Sec 69A

November 20, 2020

ITAT DELHI Nov 6, 2020 held that Section 68 is applicable only when the explanation offered by him is not in the opinion of the Assessing Officer satisfactory in respect of the sum so credited / loan taken. The explanation offered by the assessee that the bank account and the capacity of the creditor who have given the loan amount was proved through ITR details of the said parties along with bank statements and confirmations which clearly shows the proper balance in their respective bank accounts and their capacity to loan the amount to any other party as well. Sum credited in the bank account of directors immediately before the issue of cheque to the appellant is not a ground to hold that sum received is unaccounted income. BMR PLYMERS (P) LTD. vs. ITO

BMR PLYMERS (P) LTD. vs. INCOME TAX OFFICER IN THE ITAT DELHI BENCH ‘A’ S. PANNU, VP & SUCHITRA KAMBLE, JM. ITA No. 5936/DEL/2017 Nov 6, 2020 Section 68, 133(6) AY 2012-13 Decision in favour of: Assessee …
Read more

133(6), 68, AY 2012-13, Cash Credit, Delhi, Delhi Tribunal, In favour of Assessee (Partly)

November 13, 2020