Addition u/s 68 - advance received from 469 parties by the ...

Case Laws Income Tax

September 22, 2016

Addition u/s 68 - advance received from 469 parties by the assessee - the monies received by the assessee are only trade advances and the same has been proved by the assessee as a genuine credit and in any case cannot be the subject matter of addition u/s 68 - AT

View Source

← Previous Next →

Addition u/s 68 - advance received from 469 parties by the ...

Case Laws Income Tax

September 22, 2016

You may also like:

Addition u/s 68 of share application money - once the assessee is able to prove that the money received by it was returned in the account of the same party, then there...

Unexplained cash credits u/s 68 and the applicability of Section 115BBE for taxing such additions. The key points are: The Assessing Officer (AO) issued notices u/s...

Addition u/s 68 - Unexplained share application money - onus to prove - Where the assessee shows that entries regarding cash credit in a third party’s account are...

Addition u/s 68 - Unexplained loans - the appellant by filing ample documentary evidences sought to justify the identity and creditworthiness of the parties and...

Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

Addition u/s 68 - receipt of share application money - reliance on statement of third parties - The statements of third parties i.e. two angadias relied upon by the ld....

The assessee received cash credits which were treated as unexplained income u/s 68 by the Assessing Officer (AO). However, the Commissioner of Income Tax (Appeals)...

Addition u/s 68 - Unexplained cash advances received from various customers - trade advances given by the creditors/customers were found to be adjusted against the sale...

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

Unexplained credits u/s. 68 - cash claimed to have been received by the assessee from recovery of farmers' advances earlier granted - onus to prove - The ITAT upheld the...

Addition of undisclosed income u/s 68 – Gift received from brother – as per sec. 68, the assessee is required to explain the capacity of the lender to advance money to...

The assessee made investments in two firms by purchasing cold storage units funded by M/s. A.R. Constructions, where the assessee is a managing partner. The source for...

Addition u/s 68 - Identity of third party established - It will not before the assessee thereafter to explain further how or in what circumstances the third party...

Addition u/s. 68 - unexplained cash credits - though the assessee had duly substantiated the authenticity of the transactions of having received advances from 18 parties...

Addition u/s 68 - assessee has received share application money as unexplained - In the instant case, assessee has only established identity of the creditor,...

Quick Updates: