Tag Archives: Section 69C

In presumptive taxation , AO can’t ask explanation of expenses : ITAT Chandigarh

By | July 24, 2016

IN THE ITAT CHANDIGARH BENCH Nand Lal Popli v. Deputy Commissioner of Income-tax Central Circle-II, Chandigarh H.L. KARWA, VICE-PRESIDENT AND MS. RANO JAIN, ACCOUNTANT MEMBER IT APPEAL NOS. 1161 & 1162 (CHD) OF 2013 [ASSESSMENT YEARS 2007-08 AND 2009-10] JUNE  14, 2016 Vishal Mohan for the Appellant. Sushil Kumar for the Respondent. ORDER Rano Jain,… Read More »

Cash withdrawals from bank could not be taxed when credit receipts in bank were already taxed

By | October 6, 2015

when receipts in bank account were taxed, then payments from that very bank account have nexus with receipt and, therefore, addition could not be sustained HIGH COURT OF BOMBAY Commissioner of Income-tax – 21 v. Jalaj Batra S.C. DHARMADHIKARI AND A.A. SAYED, JJ. IT APPEAL NO. 638 OF 2012 NOVEMBER  12, 2014 Abhay Ahuja for… Read More »