- Addition under Section 68 can't made based on mere suspicion ...🔍
- Addition u/s 68 cannot be made solely based on sworn statement🔍
- No section 68 addition based on mere retracted statements without ...🔍
- No Section 68 Additions Without Substantive Inquiry & Evidence ...🔍
- section 68 addition🔍
- Addition for Unexplained Cash Credit can't be merely on Suspicion🔍
- Validity of Addition under section 68 without opportunity🔍
- Overview and Controversies under Section 68 & 69🔍
Addition under Section 68 can't made based on mere suspicion ...
Addition under Section 68 can't made based on mere suspicion ...
Additions under Section 68 can't be made based on mere suspicion ... In the case of Smt. Tapasi Singh Vs ITO (ITAT Kolkata), the assessee provided new capital, ...
Addition u/s 68 cannot be made solely based on sworn statement
Addition u/s 68 cannot be made solely based on sworn statement recorded u/s 132(4) without corroborative materials. Onus lies on the Department to collect ...
No section 68 addition based on mere retracted statements without ...
Mere reliance on statements without corroborative evidence and denying cross-examination rights cannot justify additions for share capital ...
No Section 68 Additions Without Substantive Inquiry & Evidence ...
Allahabad High Court upholds the deletion of an income tax addition under Section 68 for Paswara Papers Ltd., affirming the genuineness of ...
section 68 addition, addition based on suspicious, income tax survey
5. That the additions made by AO of Rs. 67,00,00,000/- u/s 68 of the Act is bad in law and in the facts ...
Addition for Unexplained Cash Credit can't be merely on Suspicion
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that no addition under section 68 of the Income Tax Act cannot be ...
Validity of Addition under section 68 without opportunity - The Tax Talk
AO based on third party statement recorded by investigation wing, treated share capital/premium received by assessee as unexplained credit and ...
Section 69. Where assessee has made investments not recorded in books… 3. Section 69A. Where assessee is found to be the owner of any money… Section ...
OVERVIEW OF SECTIONS 68, 69, 69A, 69B & 69C. (Unexplained ...
there is no room for any taxation based on a mere suspicion. cajanivivek ... Merely on the basis of fair market value no addition can be made under section.
Unexplained Deemed Income Section 68,69,69A and 69B
Merely on the basis of fair market value no addition can be made under section ... for any taxation based on a mere suspicion. In case of doubt, Assessing ...
Addition under section 68 can be made even for ... The addition without such investigation should be treated as based upon mere surmises.
Addition u/s 68 - burden of proof - share application money
Addition u/s 68 - burden of proof - share application money - The High Court, upon reviewing the submissions and evidence, concurred with ...
b) Assessee has categorically denied for incurring any expense – hence no explanation required c) No addition can be made on basis of mere third party books ...
Section 68: Tax treatment of unexplained cash credits.
When a certain amount of money is credited to a taxpayer's books of accounts without a clear justification based on the taxpayer's income or other acceptable ...
... for making an addition to assessee's taxable income under section 68 ... Addition is made only on the ground of presumption that the period ...
[Practical Case Study] Taxation of Undisclosed Income - Taxmann
Section 68 is designed to address unexplained cash credits, ensuring that any unaccounted money or funds are properly taxed.
SECTION 68: SOURCE OF SOURCE. A LAYERED CONTROVERSY.
“In the case of closely held companies, investments are made by known persons. Therefore, a higher onus is required to be placed on such ...
Addition u/s 68 merely on the basis of doubts and suspicion not ...
Hence, the AO treated the gifts of Rs. 4 Lakhs as unexplained cash credit and an addition to that extent was made by him u/s 68 of the Act. The ...
The transaction is through cheque but the creditor has deposited cash in its bank account for the equivalent amount just before issuance of cheque to the ...
Jatinder Machanda, New Delhi vs Department Of Income Tax
A question is when the assessee is not maintaining any books of account, whether addition can be made under section 68 of the Act? ... based on mere suspicion.