Indian Kanoon - Search engine for Indian Law

Section 69 in The Income Tax Act, 1961 69. Unexplained investments. -Where in the financial year immediately preceding the assessment year the assessee has made

course of the assessment proceedings in respect of the said unexplained investment. In appeal against the quantum assessment, the said addition was reduced ... taken as the unexplained investment of the assessee, 2. It was contended before the ITO that penalty should not be imposed when the addition

payments, the differential amount has been offered by way of "unexplained investments" in the hands of the respective firms. The consolidated cash flow ... though the CIT has suggested to treat the entire amount as unexplained investment, the applicant has offered

account and figure of Rs. 1,69,50,812 represented unexplained investment made out of its business. He further held that rice bran weighing ... therefore, held that the said amount remained unexplained. The same was, therefore, treated as unexplained investment under. section 69 of the Act. No separate addition

extent of Rs. 53,910 and Rs. 46,824, respectively, as unexplained investment in the construction of property at door No. 66, M. M. Avenue ... assessment year 1991-92 being unexplained investment. The assessee felt aggrieved and filed the present appeals before the Tribunal. 3. It is contended by learned

Officer under Section 69 of the Income-tax Act, 1961 as unexplained investments in construction of two multi-storeyed buildings called Surya Apartment and Vaibhav ... These figures are relevant since the Assessing Officer worked the unexplained investment not with respect to the cost of construction as per assessee

crores was fair and reasonable. He, accordingly added back as unexplained investment in the purchases for the period during the assessment year ... period of 8 days. In that view of the matter, the unexplained investment computed by the assessing officer for the assessment year

difference of Rs. 55,000 was also added in the unexplained investment in the property resulting in total unaccounted investment ... total unexplained investment in the house was thus worked out by the assessing officer

income 9,60,589 treated as income from undisclosed sources Add: Unexplained investment in share 1,50,00,000 capital out of income from undisclosed ... 2017 discussion in para 3 above Add: Unexplained investment in Gold 6,67,090 jewellery as per discussion in apara 5 above Add: Payment

cent of the turnover. The AO, therefore, worked out the unexplained investment in these transactions @20 per cent of the turnover which came ... made an addition of Rs. 7,20,575 on account of unexplained investment. The total addition made, therefore, comes