#Section 68
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Income Tax
Income Tax
Addition justified for Receipt of share application money if Genuineness and creditworthiness not proved
Income Tax
Income Tax
Addition for undisclosed stock not justified for mere difference in closing stock valuation
Income Tax
Income Tax
Mere cash Deposit in Bank Account prior to issue of cheque not sufficient to held Loan as non genuine
Income Tax
Income Tax
Addition justified for Unverified corpus donation
Income Tax
Income Tax
Cash Sale of Car cannot be doubted without inquiry| Addition not justified
Income Tax
Income Tax
ITAT upheld addition for accommodation entry receipts as LTCG
Income Tax
Income Tax
A Transaction not become Genuine merely for receipt via banking Channel
Income Tax
Income Tax
No section 68 addition can be made for non-recording of Statement on Oath by mere one Person
Income Tax
Income Tax
Assessee not liable to justify source of source of money received by him
Income Tax
Income Tax
Section 68 applies only to unexplained credit entries without proper explanation
Income Tax
Income Tax
Anonymous donations- No section 68 addition if Assessee provides complete list of donors
Income Tax
Income Tax
Section 44AD: Mere submission of Balance sheet not proves Maintenance of Books of Accounts
Income Tax
Income Tax
Addition u/s 68 was justified in case failure of assessee to prove cash deposits in partnership firm by partners
Income Tax
Income Tax
No addition for gifts if Assessee proves Identity, capacity & genuineness of donor
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.
