UNEXPLAINED INVESTMENT

UNEXPLAINED INVESTMENT
In favour of: Assessee (partly)

Unless there is finding to effect that investment by way of incurring cost was for acquiring goods that were sold, had been made by Assessee and that has also not been disclosed, question, regarding entire sum of undisclosed sale proceeds being treated as income of relevant assessment year would be answered in negative.

Ahmedabad Tribunal
SAMIR P. JARIWALA VS INCOME TAX OFFICER : (2015) 45 CCH 0340 AhdTrib
Decided On: Dec 18, 2015

TDS
In favour of: Assessee

No Benefits were paid to Director at par with regular employee, when Director was paid professionally for his technical services provisions u/s. 194J would be quite applicable instead of 201(1)/201(1A)

Bombay Tribunal
B4U TELEVISION NETWORK INDIA LTD. & ANR. VS DEPUTY COMMISSIONER OF INCOME TAX & ANR. : (2015) 45 CCH 0351 MumTrib
Decided On: Nov 30, 2015

ADDITION
In favour of: Assessee (Partly)

When there was no evidence given by assesse to extent of Rs.3,96,272 for certain electricity charges, said amount was properly added by AO and confirmed by CIT(A). However where tenants had actually given money for electricity charges to be paid on their behalf by assessee, same should have been taken into account by AO as well as CIT(A) and addition in this respect could not be added to income of assessee.

Delhi Tribunal
CHANDER PAL AGGARWAL VS INCOME TAX OFFICER : (2015) 45 CCH 0353 DelTrib
Decided On: Dec 29, 2015