#Section 68
Log in to FollowLatest Section 68 updates, provisions, case laws, compliance requirements, tax implications and expert analysis under Income-tax law on TaxGuru.
Income Tax
Income Tax
Assessee’s AO cannot question Creditor’s Income Tax Return instead he should inquire with creditor’s AO
Income Tax
Income Tax
A gift is to be treated as genuine when assessee discharges onus cast on it for proving identity, creditworthiness and relationship
Income Tax
Income Tax
Section 68- Initial burden is on the assessee to explain the “nature and source” of the credit
Income Tax
Income Tax
Just because creditors/share applicants could not be found at address given, it would not give Revenue the right to invoke section 68
Income Tax
Income Tax
When gift is not genuine, addition under section 68 is warranted
Custom Duty
Custom Duty
EPCG Scheme- Section 15(1)(b) would be applicable only when the goods are cleared from the warehouse u/s. 68 of the Cust
Income Tax
Income Tax
In case of gift from NRI not related to Assessee, onus is on the Assessee to substantiate the claim of genuine gifts: ITAT, Mumbai
Income Tax
Income Tax
Identification of donor and receipt of gift by cheque not sufficient to prove genuineness of gift
Income Tax
Income Tax
Cash Credit & Addition under Section 68 of Income Tax Act
Income Tax
Income Tax
A transaction fully supported by documentary evidences cannot be brushed aside on suspicion & surmises
Income Tax
Income Tax
The amount of share application money received by a Company from alleged bogus shareholders cannot be regarded as undisclosed income under S. 68.
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.
