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2 results for “capital gains”+ Unexplained Moneyclear

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Key Topics

Addition to Income2

Commissioner of Income Tax-V, vs. Sri Vinod Krishna Conjeevaram,

The appeal is dismissed

ITTA/594/2013HC Telangana10 Dec 2013
Section 2(47)Section 260Section 45Section 45(4)Section 68

unexplained cash credit of Rs.40,00,000/- is reflected in 6 the accounts and properly explained and no grievance can be had on that account. Insofar as the transfer of goodwill which resulted in capital gains is concerned, he submitted once the goodwill is valued and it is proportionately distributed to four partners, when two partners paid the consideration while

The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

ITTA/577/2011
HC Telangana
28 Feb 2012

capital of the company. This fact was brought to the notice of the assessee vide order sheet entry dated 29.12.2009. No satisfactory reply has been filed. It is therefore, disallowed from the revenue expenses claimed by the assessee. Penalty proceedings u/s271(1)(c) r.w 274 of the Income-tax Act for concealment and furnishing of inaccurate particulars are initiated separately