Income Tax on Cash Credit : Free Study Material
Here is the Free Study Material for Income Tax on Cash Credit :
Income tax Treatment of cash credit
Judgments
No Sec 68 Addition of Partners Capital Contribution in Partnership Firm : HC
Section 68 Addition deleted as Creditor has sufficient Funds in Bank Accounts : HC
Section 68 addition deleted as LTCG are from Genuine Transactions by habitual investor
No additions of sec. 68 if assessee proved identity of share applicants ; SC dismissed SLP
No Addition for Jewellery if declared in Revised return and purchase bills available : ITAT
Occasion not necessary to receive gifts , Sec 68 addition deleted by ITAT
Cash withdrawals from bank could not be taxed when credit receipts in bank were already taxed
Additions of Peak credit in case of unexplained cash deposits recycled in saving account
Unsecured loan/ Gifts to be added in Income if paying capacity of giver is not proved : HC
Penalty justified if no reasonable cause for cash loan taken in contravention of Sec. 269SS : ITAT
Cash Credit Account Attachment can not be done by income Tax department : Calcutta High Court
Cash Credit or term loan account can’t be attached to recover taxes
Taxation of Loans Gifts & Cash Credits (Finance Act 2018) Book by Taxmann