#Section 68
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Section 68: Creditworthiness of lender can’t be proved merely on strength of Bank Statement

Section 68 -Accommodation entry- Bombay HC in PCIT vs Alag Securities Pvt Ltd

Section 68 addition merely for deposit of business receipt of Spouse in joint bank account unsustainable

Accommodation entry Business- Entire deposits cannot be assessed as unexplained cash credits.

Addition not justified when third party retracted the statement and Assessee not given Opportunity to Cross Examine

Taxation of Unexplained Incomes

Intricacies in Benami Law

No section 68 addition if assessee discharges burden put upon it

Section 68: Sales declared as Income in books cannot be treated as cash credit

AO cannot change Share Valuation Method Opted by Assessee in Return

No addition for Share Premium for mere non-production of directors of investor companies

No section 68 addition as AO not disputed vortex of evidences furnished by assessee

No Section 68 addition of partners capital contribution in Firm if source of capital proved

Treatment of Cash Sales as Unexplained Cash Credit | Section 68
Explore the latest Section 68 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
