Part I -- Income from Undisclosed Sources |
1
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Section A -- Introductory |
2
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| 1 Deemed Income under Sections 68 to 69D |
2
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| 2 Taxation of Incomes Referred to in Sections 68 to 69D |
8
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Section B -- Cash Credits [Section 68] |
11
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| 3 Chargeability under Section 68 |
11
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| 4 Nature, Scope and Mandate of Section 68 |
17
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| 5 Scope of First Proviso to Section 68 as Inserted by Finance Act, 2022 |
24
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| 6 Scope of Second and Third Proviso |
28
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| 7 Maintenance of Books of Accounts -- Condition Precedent for Invoking Section 68 |
34
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| 8 Approach of Assessing Officer While Invoking Section 68 |
41
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| 9 Onus to Prove Regarding Cash Credit |
50
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| 10 Shifting of Burden of Proof to Revenue |
72
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| 11 Role of Assessee's Explanation Regarding Credit Entries |
81
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| 12 Examination As to Genuineness of Cash Credit |
91
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| 13 Justification of Addition under Varying Circumstances |
116
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| 14 Long Term Capital Gain on Penny Stocks Vis-a-Vis Addition under Section 68 |
138
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| 15 Telescoping of Intangible Additions |
152
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| 16 Applicability of Peak Credit Theory |
160
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| 17 Cash Credit Vis-a-Vis Partnership Firm |
166
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| 18 Share Capital of Companies and Cash Credit |
180
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| 19 Burden to Prove Source of Share Capital etc. in Hands of Investors in Case of Closely Held Companies |
229
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| 20 Shell Companies Vis-a-Vis Addition under Section 68 |
230
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| 21 Addition under Section 68 Vis-a-Vis Donation in Hands of Charitable Trusts and Institutions |
232
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| 22 Cash Deposits under Varying Fact Situations Vis-a-Vis Addition under Section 68 |
235
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| 23 Cash Credit Perspective in Estimation of Business Income |
263
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| 24 Tribunal's Finding Vis-a-Vis Cash Credit |
268
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| 25 Powers and Duties of Assessing Officer While Invoking Section 68 Provision |
271
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Section C -- Loans and Cash Credits |
280
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| 26 Dealing with Unsecured Loans |
280
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| 27 Burden to Prove Genuineness of Unsecured Loans |
292
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| 28 Source of Source Whether Required to be Proved |
317
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| 29 Issuance of Summons to Loan Creditors |
328
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| 30 Unsecured Loan from Family Members -- Determination of Its Genuineness |
336
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| 31 Justification of Addition on Account of Unsecured Loans |
340
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Section D -- Conveyancing Solutions in Cash Credits Specific Matters |
350
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| 32 Notice Vis-a-Vis Cash Credits |
350
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| 33 Specimen Replies Under Varying Circumstances |
352
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Section E -- Unexplained Investments [Section 69] |
370
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| 34 Addition under Section 69 |
370
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| 35 Burden of Proof and Opportunity of Hearing |
379
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| 36 Justifiability or Otherwise of Addition under Section 69 |
389
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| 37 Addition under Section 69 Vis-a-Vis Construction Cost |
400
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| 38 Addition under Section 69 Consequent to Search, Seizure and Survey Proceedings |
408
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| 39 Addition on Account of Unexplained Jewellery |
421
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| 40 Addition on Account of Unaccounted Sales and Bogus Purchases |
427
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| 41 Excess Stock Vis-a-Vis Addition under Section 69 |
438
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| 42 Undisclosed or Unexplained Investment in Property |
447
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| 43 Unexplained Deposit in Bank Account |
458
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| 44 Unexplained Investments in Shares, Bonds, FD's, etc. |
469
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| 45 Miscellaneous Fact Situations and Addition under Section 69 |
478
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| 46 Conveyancing As to Section 69 |
503
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Section F -- Unexplained Money, Jewellery, Etc. [Section 69A] |
506
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| 47 Addition under Section 69A |
506
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| 48 Presumption As to Ownership |
512
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| 49 Opportunity of Hearing and Burden of Proof |
518
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| 50 Addition on Account of Unexplained Jewellery |
522
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| 51 Cases of Unexplained Cash |
530
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| 52 Justifiability or Otherwise of Addition under Section 69A |
542
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| 53 Conveyancing As to Section 69A |
560
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Section G -- Amount of Investments, Etc., Not Fully Disclosed in Books of Accounts [Section 69B] |
563
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| 54 Addition under Section 69B |
563
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| 55 Addition under Section 69B Where Not Sustainable |
572
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| 56 Additions under Section 69B Where Sustainable |
587
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| 57 Conveyancing As to Section 69B |
591
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Section H -- Unexplained Expenditure and Bogus Purchases [Sec. 69C] |
595
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| 58 Addition on Account of Unexplained Expenditure |
595
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| 59 Addition Towards Bogus Purchases |
626
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| 60 Conveyancing As to Section 69C |
666
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Section I -- Amount Borrowed or Repaid on Hundi [Section 69D] |
672
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| 61 Addition of Hundi Amount under Section 69D |
672
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| 62 Conveyancing As to Section 69D |
679
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Section J -- Gifts and Treatment Thereof as Undisclosed Income |
682
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| 63 Section 68 Vis-a-Vis Section 56(2) |
682
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| 64 Burden to Prove As to Genuineness of Gift |
685
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| 65 Justification of Addition on Account of Non-Genuine Gift |
699
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| 66 Addition on Account of Gift Where Held Not Sustainable |
709
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| 67 Addition on Account of NRI Gift |
717
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| 68 Gift Vis-a-Vis Addition under Section 68/69/69A/69B/69C |
723
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| 69 Necessity of Opportunity of Hearing |
725
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Section K -- Demonetisation Vis-a-Vis Income From Undisclosed Sources |
727
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| 70 Addition in Wake of 2016 Demonetisation |
727
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| 71 Applicability of Section 68 or Section 69A in Demonetisation Cases |
729
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| 72 Post Demonetisation Cash Deposit Consequences |
731
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| 73 Addition on Account of Cash Deposit During Demonetisation -- Cases Helpful While Contesting Addition |
735
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| 74 Acceptance of Old Currency Notes Against Sales After Becoming Illegal Tender -- Related Issues |
746
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| 75 Scheme of Declaration in Pradhan Mantri Garib Kalyan Yojana [Relevant from 17-12-2016 to 31-3-2017] |
750
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| 76 Checklist Regarding Verification of Cash Deposits |
754
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| 77 Queries and Reply Vis-a-Vis Demonetisation Cases |
758
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| 78 Deposit of High Denomination Note in Wake of Earlier Demonetisation Scenario Vis-a-Vis Income from Undisclosed Sources |
765
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| 79 Declaration under Voluntary Disclosure Schemes During Demonetisation Vis-a-Vis Addition under Section 68 |
770
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| 80 Declaration under Vivad Se Vishwas Scheme -- Salient Features |
778
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Part II -- Taxation Under Section 115BBE and Penal Consequences |
787
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| 81 Introduction of Taxation at Special Rate under Section 115BBE |
788
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| 82 Scheme of Taxation under Section 115BBE |
790
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| 83 No Deduction or Set Off of Loss Out of Deemed Income Referred to u/ss. 68 to 69D |
795
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| 84 Unexplained Income Liable to Taxation under Section 115BBE -- Nature and Instances |
799
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| 85 Cash Sales Vis-a-Vis Applicability of Section 115BBE |
808
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| 86 Surrender of Income in Search or Survey and Applicability of Section 115BBE |
812
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| 87 Non-Applicability of Section 115BBE Where Income Classified as Business Income |
823
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| 88 Penalty when Leviable under Section 271AAC |
827
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| 89 Penalty Leviable under Section 271AAB Where Undisclosed Income Found During Search |
829
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| 90 Penalty Leviable under Section 271AAD Where False Entry Fake Invoice etc., Found While Invoking Addition for Undisclosed Income |
839
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Part III -- Treatment of Cash Transactions |
843
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Section A -- Disallowance of Cash Payments Under Section 40A(3) |
844
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| 91 Disallowance Provision under Section 40A(3) |
844
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| 92 Scope and Applicability of Section 40A(3) |
848
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| 93 Issues Relevant to Section 40A(3) As Clarified by CBDT Via Various Circulars |
864
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| 94 Exceptional Circumstances As Per Rule 6DD |
867
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Section B -- Acceptance or Repayment of Loan/Deposit/Specified Sum or Advances in Cash [Sections 269SS & 269T] |
886
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| 95 Restriction on Acceptance and Taking of Loan, Deposits or Specified Sum [Section 269SS] |
886
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| 96 Bar to Repayment of Loan or Deposit or Specified Advance in Cash [Section 269T] |
908
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| 97 Escapement From Penalty under Ss. 271D and 271E Owing to Reasonable Cause |
916
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Section C -- Miscellaneous Issues Vis-a-Vis Cash Transactions |
993
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| 98 Restriction on Cash Receipts under Section 269ST |
933
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| 99 Acceptance of Payment Through Prescribed Electronic Modes [Section 269SU] |
940
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| 100 Certain Other Disincentives for Cash Transactions |
942
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