#Section 68
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Income Tax
Income Tax
If Share premium defies commercial prudence, it cannot be assessed as unexplained credit
Income Tax
Income Tax
No Bogus capital gains if assessee furnishes documentary proof & proves identity of purchasers
Income Tax
Income Tax
Loans received in earlier Years – Addition u/s 68 Cannot be Made in Present Year
Income Tax
Income Tax
Unexplained Funds Routed to Assessee Company to Result in Additions in Hands of Both the Parties
Income Tax
Income Tax
Addition U/s. 68 not justified for mere allotment of Shares at Premium of Rs. 39900
Income Tax
Income Tax
Addition u/s. 68 justified for Capital introduced by partner in assessee firm from sale of agricultural land with No documentary evidence to substantiate sale
Income Tax
Income Tax
Bogus purchase: Addition should be of income component only
Income Tax
Income Tax
Penny Shares cannot be treated as bogus if documents are in order
Income Tax
Income Tax
No Addition u/s 68 if identity, creditworthiness & genuineness established
Income Tax
Income Tax
Sec.69/69A- Addition cannot be challenged on mere denial of transaction
Income Tax
Income Tax
S.68 Assessee only required to provide evidence of identity & transactions
Income Tax
Income Tax
No Set off of losses against deemed undisclosed income
Income Tax
Income Tax
S. 68 No addition if parties have enough bank balance while giving loan
Income Tax
Income Tax
Section 68 cannot be applied where Assessee discharges onus to prove receipt of share capital along with premium
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.
