Undisclosed investments
This query is : Resolved
CA SANDIP M BADDAR
(Querist)
31 January 2015
sir i made investments in bonds through my bank account with the name of my father and accounted it in my account as investment whether it allowed
Nikhilesh Kataria
(Expert)
31 January 2015
Hi Sandeep,
In various judicial pronouncement it has been held that the investment u/s 54EC should be traceable to the capital assets sold and it will hardly matter that in whose name the bonds have been purchased. So your investment in name of your father through your bank account shall be allowed. Please refer ITO vs. Smt. Saraswati Ramnathan 116 ITD 234 (Del)
In various judicial pronouncement it has been held that the investment u/s 54EC should be traceable to the capital assets sold and it will hardly matter that in whose name the bonds have been purchased. So your investment in name of your father through your bank account shall be allowed. Please refer ITO vs. Smt. Saraswati Ramnathan 116 ITD 234 (Del)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- Gift to nri relatives residing in usa
- Section 269ST applicability for capital introduced by partner to his partnership firm
- IMS (import of goods) ITC related
- Advances to related party
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
