Additions u/s 68 - in case of share capital, the ...

Assessees must prove creditworthiness, genuineness, and identity in share capital transactions u/s 68 for validation.

September 3, 2015

Case Laws Income Tax AT

Additions u/s 68 - in case of share capital, the creditworthiness along with genuineness of transaction, identity of person is also required to be proved by the assessee. - AT

View Source

← Previous Next →

Additions u/s 68 - in case of share capital, the ...

Assessees must prove creditworthiness, genuineness, and identity in share capital transactions u/s 68 for validation.

September 3, 2015

Case Laws Income Tax AT

You may also like:

The assessee company received share capital and share application money from 13 share applicants. The Assessing Officer (AO) made an addition u/s 68, alleging that the...

Non-proving identity, creditworthiness, and genuineness of share premium received cannot be treated as unexplained income if sufficient documentary evidence is provided....

In a case concerning unexplained credit u/s 68, the assessee proved the identity and genuineness of share applicants, although their creditworthiness was questioned. The...

Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was...

Unexplained share capital/share premium - proof of genuine investors - the assessee has been able to prove identity of the share applicants, their creditworthiness and...

The ITAT allowed the assessee's appeal. The assessee furnished all evidence proving identity, creditworthiness of investors, and genuineness of transactions regarding...

Unexplained share capital and premium received by assessee company was its own unaccounted money flowing back in form of premium on share allotment. Assessee filed...

The assessee successfully discharged the onus u/s 68 regarding share capital introduced by the company director, a major shareholder, proving identity, creditworthiness,...

Addition u/s 68 - bogus share capital & share premium - The assessee failed to prove that the transactions of share application money is genuine and the creditworthiness...

Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

Power of CIT(A) in enhancing the addition - violating the law u/s 251(2) - enhancement of addition made u/s. 68 - the assessee had discharged its onus to prove the...

Unexplained share capital and share premium - Not only the assessee has proved the identity and creditworthiness of the investors and genuineness of the transactions by...

Addition u/s 68 - genuineness of the transaction - share capital and share premium - identity and creditworthiness of the investors - the genuineness of the transaction...

Undisclosed cash credit u/s 68 - non-appearance of directors - As per DR assessee has failed to prove the genuineness of transaction and creditworthiness of the share...

Addition u/s 68 - Bogus share capital and share premium received. The assessee failed to prove the identity and creditworthiness of the subscriber companies and the...

Quick Updates: