#Section 68
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Income Tax
Income Tax
Reassessment could be Initiated if True Facts not Disclosed Earlier
Income Tax
Income Tax
Once assessee has proved identity and creditworthiness of the share applicants, addition u/s 68 cannot be sustained
Income Tax
Income Tax
Addition cannot be made for mere non presence of purchaser of land before AO
Income Tax
Income Tax
Unless genuineness of transaction is established by assessee, addition u/s 68 can’t be revoked
Income Tax
Income Tax
Share Application money cannot be added to Income if Assessee discharges the onus cast on him
Income Tax
Income Tax
Assessee cannot take advantage of accepted accounting for other periods after voluntarily disclosure of receipt of certain amount
Income Tax
Income Tax
Gift cannot be said ingenuine if identity and relationship with donor established
Income Tax
Income Tax
Once identity & creditworthiness of parties and genuineness of transaction proved, section 68 cannot be invoked
Income Tax
Income Tax
Assessee must prove genuineness of gift, circumstance and reason which necessitated making a gift
Income Tax
Income Tax
Loss on account of intraday trading in shares settled through clearing difference bills is not speculative in nature
Income Tax
Income Tax
Identity and creditworthiness of shareholder proved, addition u/s 68 not Justified
Income Tax
Income Tax
Furnishing of Name, Address, PAN and Bank Statements are Sufficient compliance u/s 68
Income Tax
Income Tax
Peak credit theory for addition to income is applicable when deposit in bank account is out of cash withdrawals
Income Tax
Income Tax
AO cannot made addition for Anonymous donations treated as Income by Assessee
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.
