Ravi Purohit of Rs. 1.50 lacs and
these are unexplained cash credits. The AO notices from annexure iii to
firm No. 6B of the special ... cash creditors and adding a sum of Rs.
19,54,300/- out of which CIT(A) deleted the addition of unexplained cash
credit
justified in holding that a separate addition on the basis of unexplained cash credits was not permissible in view of the addition made ... unexplained cash credits is within his special knowledge. The ITO need not establish by independent evidence that a particular cash credit pertains to a particular
money u/s 68
of the Income Tax Act, 1961 as unexplained cash credits.
2. On the facts and in the circumstances of the case ... made by the
Assessing Officer on account of unexplained cash credits u/s 68 of the Income
Tax Act, 1961 and corresponding interest expenses
made by AO on account of unexplained cash
credit u/s 68 of the IT Act, 1961 from Kolkata
based companies.
3. That ... made by AO on account of unexplained cash
credit u/s 68 of the IT Act, 1961 from non
Kolkata based companies
view of
principles of mutuality the unexplained cash credits against FD of
Rs.2,04,47,000/- added in the hands of the appellant society ... persons. Hence, the amount credited in
the cash books of Pat Sanstha was treated as unexplained cash credits under
section
cash credits. The pattern emerging from the several cash credits can itself be treated as a circumstance sufficient to conclude that the cash credits represented ... could be drawn was that the cash credits and the cash deficits represented concealed income. Regarding the cash deposits the Income-tax Appellate Tribunal misdirected
treating the same as unexplained cash credits u/s 68 which
received by the assessee as temporary loans which were duly repaid after 2
months
made on account of share application/capital received
an unexplained cash credits u/s.68 of the Income Tax Act, 1961.
5. On the facts ... 2015
Kolkata/Mumbai based companies as unexplained cash credit
u/s. 68 of the Act, as under:
A.Y. Share capital money received
laid down that in the
absence of a satisfactory explanation, the unexplained cash credit may be charged
to income-tax as the income ... enough to assess the share
application monies received by way of unexplained cash credit. The SLP filed by
the Revenue against this judgment has been
Officer treated the
amounts shown as cash receipts in the diary, note book, retrieved data as
unexplained cash credits in the respective years and brought ... Cash received from 1,76,63,000
KNN
Total 24,12,55,000
6.1.1 Thus, the additions of unexplained cash credits
