#Section 68
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Income Tax
Income Tax
Section 68 cannot be applied where Assessee discharges onus to prove receipt of share capital along with premium
Income Tax
Income Tax
Addition u/s 68 cannot be made solely on the ground of non-production of payer’s bank statement
Income Tax
Income Tax
Addition u/s 68 not sustainable where whole transaction supported by adequate & reliable evidences
Income Tax
Income Tax
S. 68 – Mere Common address shared by several companies may not be sole ground to doubt identity or creditworthiness
Income Tax
Income Tax
Defunct companies at the time of assessment have resurrected back to life after statutory compliances were fulfilled, addition u/s 68 sustained
Income Tax
Income Tax
Addition u/s 68 on account of share application money not justified where validity of transaction beyond doubt
Income Tax
Income Tax
When revenue failed to show any legal infirmity in order of ITAT, no question of law arises in relation to Sec. 68
Income Tax
Income Tax
Addition cannot be made for mere failure of Assessee to furnish current address of depositors
Income Tax
Income Tax
Conclusions based on suspicion cannot take the place of proof : SC
Income Tax
Income Tax
Gift from abroad cannot be taxed on mere suspicion: HC
Income Tax
Income Tax
No addition for Gift from abroad if Donor gives statement before AO regarding his capacity despite non production of any document
Income Tax
Income Tax
Losses cannot be set-off against Bogus /unexplained cash credit Income
Income Tax
Income Tax
Penalty cannot be imposed for mere non acceptance of evidences during Quantum Assessment
Income Tax
Income Tax
No addition u/s 68 on account of money received on allotment of shares, once identity of Investor Company established
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.
