S. 68 Of Income Tax Act Not Attracted When There Is No ...

Section 68: Unexplained Cash Credit - CAclubindia

As per section 68, any sum found credited in the books of a taxpayer, for which he offers no explanation about the nature and source thereof ...

Applicability of the provisions of Section 68 of the Income-tax Act vis ...

But if the Assessing Officer finds that the alleged shareholders do not exist then, in effect, it would mean that there is no valid issuance of share capital.

CGST-Act-Updated-30092020.pdf - CBIC-GST

section 92A of the Income-tax Act, 1961;. (13) ―audit‖ means the ... or any other similar activity, whether or not it is for a pecuniary benefit;.

http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 7 ...

Section 68 of 1961 Act was introduced for the first time ... department could not act unreasonably and reject that explanation to hold that it was income.

SHRI SAURABH MALHOTRA, Datia v. ITO WARD 1(2), Gwalior

CIT(A) himself observes that "unlike section 68, under section 69 there is no condition for any investment to be recorded in the books of accounts." Thus he ...

75 Landmark Judgements on Section 271D of the Income Tax Act ...

If there was a genuine and bonafide transaction and the taxpayer could not get a loan or deposit by account payee cheque or demand draft for ...

Recent Issues In SECTION 68 - Experts Panel

If he disputes liability for tax it is for him to show either that the receipt was not income or that if it was, it was exempt from taxation ...

Section 68 not apply to Opening Balances with no Transactions

ITAT-Section 68 of the Income Tax Act 1961 not apply to Creditors Opening Balances which did not arise out of any Transaction during the Previous Year.

Section 68 of Income Tax Act

... not genuine and sub-creditor had no creditworthiness, it will not necessarily mean that the loan advanced by the sub-creditor to the ...

Section 68- A forceful Weapon in the Hands of Revenue

Section 68 of the Income Tax Act, 1961 is meant for unexplained cash credits. The credit of any amount to the taxpayer is taxable until and ...

A Guide on Section 68 of Income Tax Act - Cash Credit Tax Treatments

Also, Unexplained cash credits are subject to tax at a flat rate of @60%, without any benefit exemption limitations, and regardless of the tax ...

Regulation No. 68 (11 NYCRR 65): Regulations Implementing the ...

(i) Within the meaning of section 5102(a)(2) of the Insurance. Law, insurers shall not take a deduction for statutory or contractual wage continuation plans ...

1. ITA NO.10 OF 2022 - Gauhati High Court

additions made under Section 68 of the Act did not constitute ... income of the assessee under Section 68 of the Income. Tax Act. The ...

An Analysis of Section 68 of the Income Tax Act, 1961 vis-à-vis ...

The term 'Penny Stock' has hitherto not been defined under any Indian enactment currently in force but has often been made the subject of ...

Section 68 - No addition u/s. 68 can be made when assessee is not ...

A credit in the Bank account of assessee cannot be construed as credit in the books of the assessee. 4. The Hon'ble ITAT stated that it is settled position that ...

Swapping Company Shares among Shareholders does attract ...

The Income Tax Appellate Tribunal (ITAT) held that the provisions of section 68 of Income Tax Act ... there is no cash transferred for the ...

Unexplained Cash Credit - IndiaFilings

Section 68 of the Income Tax Act ... Provided further that nothing contained in the first proviso shall apply if the person, in whose name the sum ...

Code Reviser Washington State Constitution

... law, and shall receive no fees for their own use. [AMENDMENT 28, part, 1951 ... not be deemed a gift within the provisions of section 7 of this Article.

Analysis of Section 68 and 69 of the Income Tax Act, 1961 | PPT

No deduction in respect of any expenditure or allowance [or set off of any loss] shall be allowed to the assessee in computing his income ...

What is Section 68 income tax? - Quora

Introduction Section 68 of the Income Tax Act, 1961 is meant for unexplained cash credits. The credit of any amount to the taxpayer is ...