Addition u/s 68 - onus to prove the identity, creditworthiness ...

Case Laws Income Tax

May 19, 2021

Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was fully explained by the assessee. The assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants. - the addition made by the AO and sustained by Ld CIT(A) was based on conjectures and surmises, so it cannot be justified - AT

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Addition u/s 68 - onus to prove the identity, creditworthiness ...

Case Laws Income Tax

May 19, 2021

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