Unexplained Income – TAX UPDATE INDIA

Cash sales during demonetisation already reported as sales, cannot be taxed twice as unexplained credit: ITAT Delhi

CA Adityavikram Banka April 18, 2024

Cash sales during demonetisation already reported as sales, cannot be taxed twice as unexplained credit: ITAT Delhi Harisons Diamonds Pvt Ltd Vs ACIT (ITAT Delhi) Appeal Number : ITA No. … Read More

Income Tax

Taxation of unexplained income or investment

CA Adityavikram Banka March 26, 2024

Taxation of unexplained income or investment: 1. Sec .68 of Income Tax Act– Cash Credits Where any sum is found credited in the books of an assessee maintained for any … Read More

Flash News

MCA issues Merger and Amalgamation Amendment Rules effective from 17th September.

Taxation of ESOPs

Block Assessment in case of Search Proceedings Re-introduced in the Budget 2024

Amendments made in Form 3CD effective from AY 2024-25

TDS on Partner’s Remuneration introduced in the Budget 2024

RBI allows Indian Resident to open foreign currency accounts in GIFT City under LRS

Lower Tax Deduction certificate (TDS)

Sec 54 – Date of possession of new property is to be considered in the case of constructed property: ITAT Mumbai

Transit rent paid by the developer is not a revenue receipt and so not taxable: Bombay HC

Legal precedents on Ad- Hoc Disallowances

Tag: Unexplained Income

Cash sales during demonetisation already reported as sales, cannot be taxed twice as unexplained credit: ITAT Delhi

Taxation of unexplained income or investment