Addition u/s 68 - Addition on account of joint venture agreement ...

Income Tax Act Section 68 addition invalidated due to lack of evidence; joint venture funds not proven as own funds.

March 24, 2020

Case Laws Income Tax AT

Addition u/s 68 - Addition on account of joint venture agreement - the addition made u/s. 68 of the Act only on the basis of two statements which could not stand the scrutiny of law, was warranted and therefore, the addition cannot be sustained as per law - There is no evidence that, assessee had infused its own fund through accommodation entry provider - additions deleted - AT

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Addition u/s 68 - Addition on account of joint venture agreement ...

Income Tax Act Section 68 addition invalidated due to lack of evidence; joint venture funds not proven as own funds.

March 24, 2020

Case Laws Income Tax AT

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