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3 results for “depreciation”+ Unexplained Investmentclear

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Key Topics

Section 2606Section 694Section 260A2Section 2542Section 2(22)(e)2Section 682

SRI S S JYOTHI PRAKASH vs. THE ADDL COMMISSIONER

The appeal is allowed accordingly

ITA/460/2010HC Karnataka07 Jun 2016

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

Section 260Section 68Section 69

depreciation. Hence, it is not guess work or estimate as relied upon by the assessee. It is based on the rate of the property sold during the relevant time in that area which was collected from the office of the Sub-registrar, Shimoga. Since the unexplained investment

THE COMMISSIONER OF INCOME TAX GULBARGA vs. M/S MANJUNATHA COTTON AND GINNING FACTORY

The appeals are dismissed

ITA/2564/2005HC Karnataka13 Dec 2012

ARAVIND KUMAR,N.KUMAR

Bench:
Section 260Section 260A

unexplained investments that can be clearly attributed to concealed income. However, mere 53 addition or estimates made on mere suspicion that there is something wrong with the book entries or their incompleteness, inadvertent omissions, debatable additions or disallowances, cash credits or investments not accepted as genuine, and rejection of a claim of expenses may not be themselves justify a penalty

M/S FIDELITY BUSINESS SERVICES INDIA PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

ITA/512/2017HC Karnataka23 Jul 2018

Bench: S.SUJATHA,VINEET KOTHARI

Section 2(22)(e)Section 254Section 260

unexplained income of the Assessee under Section 69- A of the Act, a different provision. In the appeal filed before the High Court, the Division Bench of the Allahabad High Court held in para-15 that the use of Date of Judgment :23-07-2018 I.T.A.No.512/2017 M/s. Fidelity Business Services India Pvt. Ltd., Vs. Assistant Commissioner of Income