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Income Tax - Highlights / Catch Notes

Home Highlights August 2013 Year 2013 This

Unexplained Credit – Addition u/s 68 - Money borrowed through ...


Section 68 Credit Issue: Insufficient Proof from Confirmatory Letters for Fixed Deposit Scheme Under Income Tax Act.

August 29, 2013

Case Laws     Income Tax     AT

Unexplained Credit – Addition u/s 68 - Money borrowed through fixed deposit in a scheme under the Company (acceptance of deposit) Rule, 1975 - mere filing of the confirmatory letters will not discharge the onus that lies on the assessee - AT

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