Addition u/ 68 and 69 - identity and creditworthiness of the ...

Sections 68 and 69 Updates: Authorities Must Verify Share Applicants' Identity, Creditworthiness, and Transaction Genuineness.

January 6, 2020

Case Laws Income Tax AT

Addition u/ 68 and 69 - identity and creditworthiness of the share applicants and the genuineness of the transaction - Merely because the assessee was successful in completing the paperwork very meticulously or bringing into existence certain documents, the statutory obligation of the authorities does not get absolved - Additions confirmed.

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Addition u/ 68 and 69 - identity and creditworthiness of the ...

Sections 68 and 69 Updates: Authorities Must Verify Share Applicants' Identity, Creditworthiness, and Transaction Genuineness.

January 6, 2020

Case Laws Income Tax AT

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Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

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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...

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

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