#Section 68
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Income Tax
Income Tax
Addition u/s. 68 cannot be deleted for mere payment if not supported by creditor’s confirmation
Income Tax
Income Tax
For Failure to prove source of capital contribution by partners the same cannot be taxed in the hand of firm as unexplained cash credit U/s. 68
Income Tax
Income Tax
S.68 If assessee fails to prove identity & credit worthiness of creditor than AO can treat the loan as income
Income Tax
Income Tax
Budget 2012 – No Basic Exemption on Unexplained Income – To be taxed at 30 percent
Income Tax
Income Tax
Budget 2012 – Onus to prove Source of Fund recd as Share Capital shifted on Company
Income Tax
Income Tax
Addition u/s 68 can be made for non production of lenders
Income Tax
Income Tax
Addition for Gift recd not warranted if Assessee proves identity, credit-worthiness and genuineness of donor
Income Tax
Income Tax
Decision’ does not merely mean the conclusion, It embraces within its fold the reasons forming basis for the conclusion
Income Tax
Income Tax
Share Application money cannot be regarded as undisclosed income under S.68
Income Tax
Income Tax
Addition under S. 68 cannot be made for loan taken in earlier years
Income Tax
Income Tax
Deduction U/s. 80 HHC allowable in respect of addition made on account of creditors
Income Tax
Income Tax
Addition under section 68 not permissible when the advances are received by account payee cheques and interest and shares have been paid and allotted against these advances
Income Tax
Income Tax
AO based on the report of the Inspector without giving an opportunity to the assessee to explain the alleged information, is not correct
Income Tax
Income Tax
When the assessee successfully explains the source of share application money, the additions made u/s 68 are not sustainable
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.
