Additions u/s 68 - capital introduced by partners - - The ...

Section 68 Additions Upheld: Partners Failed to Prove Source of Introduced Capital in Tax Returns.

September 10, 2012

Case Laws Income Tax AT

Additions u/s 68 - capital introduced by partners - - The availability of funds with the partners was not at all disclosed in their respective returns of income. - addition confirmed. - AT

View Source

← Previous Next →

Additions u/s 68 - capital introduced by partners - - The ...

Section 68 Additions Upheld: Partners Failed to Prove Source of Introduced Capital in Tax Returns.

September 10, 2012

Case Laws Income Tax AT

You may also like:

Addition u/s 68 of the Income Tax Act - capital introduced by the partner - the partner who introduced the capital has confirmed and owned the same – no addition - AT

Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined...

Addition u/s 68 on unexplained capital - erroneous filing of ITR and is a result of mistake committed by the assessee partnership firm - the capital introduced by the...

Addition u/s 68 - unexplained cash credit - capital contribution in cash by the partners - While deleting the additions, the Tribunal held that, if the Ld. AO was not...

Addition u/s 68 - unexplained credit - Onus to prove - share capital introduced - the assessee failed to explain the sources of investment of cash of Rs. 10 lacs each by...

Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

Addition u/s 68 - cash capital introduced by partners shown to be loan taken - The cash component in which form the capital was introduced in the firm was small compared...

Unexplained cash credit u/s 68 - cash received from partners - difference pointed out by the AO as capital introduced by both the partners of the assessee firm different...

Unaccounted and Unexplained cash credit u/s 68 - capital introduced by partners - There was no justification for making addition to the total income of the assessee on...

Addition u/s 68 - unsecured loans Addition u/s 2(22)(e) - Deemed dividend - The Tribunal found merit in the Assessee's submissions, noting that all relevant documents...

Addition u/s 68 - capital contribution by the partners in the partnership firm - the assessee could not be expected to prove the source of source and addition which...

Addition on account of share premium as income from other sources - It becomes income of the assessee only by way of deeming legal fiction. We find that the residuary...

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...

The ITAT, an Appellate Tribunal, addressed the validity of reopening assessment u/s 147 and addition u/s 68. The AO had sufficient material to believe the assessee...

Addition u/s 68 - Unexplained credit - scope of amended provisions of section 68 - onus to prove source of source - Although, the issue before us pertains to assessment...

Quick Updates: