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- Section 68 of Income Tax Act🔍
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- Section 68 Of Income Tax Act🔍
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- Section 68 of the Income Tax Act🔍
S. 68 Of Income Tax Act Not Attracted When There Is No ...
S. 68 Of Income Tax Act Not Attracted When There Is No ... - LiveLaw
The Gujarat High Court stated that there cannot be any income escapement by the assessee if there is no unexplained amount in the bank ...
Section 68 of Income Tax Act, 1961
There was no effort made to pursue the so-called alleged creditors. In those circumstances, the assessee could not do anything further.” Also, it is presumed ...
Gujarat HC Holds S. 68 Of Income Tax Act Not Attracted ... - Taxscan
In a recent case, the Gujarat High Court stated that there cannot be any income escapement by the assessee if there is no unexplained amount ...
Live Law on X: "S. 68 Of Income Tax Act Not Attracted When There Is ...
S. 68 Of Income Tax Act Not Attracted When There Is No Unexplained Amount In Bank Statement: Gujarat High Court https://t.co/xHXThC6U06.
Unexplained Cash Credit (Section 68) – Tax Treatment of ... - ClearTax
No deduction/allowance is allowed and no loss can be set off against such unexplained cash credit which is considered as income. Penalty is not ...
Section 68 Of Income Tax Act: Tax On Unexplained Cash
Unexplained cash credit, as defined under Section 68 of the Income Tax Act, refers to any income that is not adequately explained, ...
Provisions of section 68 not attracted as investment by investor ...
ITAT Delhi held that provisions of section 68 of the Income Tax Act are not attracted as the investment by the investor companies is duly ...
Section 68 of the Income Tax Act,1961-Cash Credit-As per ... - Taxlok
Section 68 of the Income Tax Act,1961-Cash Credit-As per section 68, if the assessee offers no explanation of any sum found credited in the books of an assessee ...
Gujarat HC: IT Section 68 Does Not Apply if There is No Clear ...
It was mentioned by the Gujarat High Court that there cannot be any income escapement from the taxpayer if there is no unexplained amount in ...
The mere mention of the income tax file number of an investor was not sufficient to discharge the ... there was no occasion for making the gifts or there was no ...
Unexplained Cash Credit (Section 68) - Income Tax - Tax2win
... Treatment. Explore the significance of Section 68 in taxing any sum credited to the taxpayer, unless it qualifies for specific exemptions.
When no cash involved in transaction, Section 68 not attracted
In a recent judgment, ITAT has held that when there was no cash involved in the transaction of allotment of shares, the provisions of Section 68 ...
Section 115BBE and Section 68/69 – Taxation of Unexplained ...
1.1 Certain unexplained cash credit, investment, expenditure, etc., are deemed as income under Section 68, Section 69, Section 69A, Section 69B, Section 69C and ...
ITAT held that addition u/s 68 for unexplained cash credit is not ...
The ITAT Mumbai, in a case involving addition u/s 68 for unexplained cash credit from loans taken from various parties, held that only loans taken during the ...
Provisions of Section 68 are not applicable on the sale transactions ...
If cash sales transaction is recorded in regular books of accounts, sales are made out of stock-in-trade then no addition U/s 68 could be ...
Whether Provisions of Section 68 are applicable in case of sales ...
There may be a situation where the assessee was required to maintain books of accounts as per section 44AA but NO books of accounts were ...
Applicability of Section 68 to Cash Credits in Absence of Books of ...
Section 68 of the Income-tax Act, 1961 deems unexplained cash credits to be the income of the assessee under certain circumstances.
Section 68 Of The Income Tax Act - Coinmen Consultants LLP
Section 68 was introduced in the Income tax Act, 1961 with effect from 1st April 1962. The said section was unique at the time of its introduction as there ...
fact that additions under sections 68-69C attract tax @. 77.25%. 3. Saurabh N. Soparkar, Sr. Advocate. Page 4. SECTION 68 TO 69C OF THE INCOME TAX ACT, 1961.
Section 68 Addition cannot be made for purchases - TaxGuru
ITAT held that Addition under section 68 of Income Tax cannot be made for purchases as purchases is an expense which is debited in books and ...