Addition u/s 68 - Failure to discharge onus - Though proviso to ...

Case Laws Income Tax

February 4, 2020

Addition u/s 68 - Failure to discharge onus - Though proviso to section 68 which has been inserted w.e.f. 1.04.2013, that is, from A.Y. 2013-14 provides that Investee Company in whose name such credit is recorded should also offer explanation about the nature and source of such credit. Here in this case though proviso may not strictly apply but facts and circumstances as discussed above does require that the investee company has to explain the source of its investment and creditworthiness.

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Addition u/s 68 - Failure to discharge onus - Though proviso to ...

Case Laws Income Tax

February 4, 2020

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