Addition u/s 68 - unexplained credit - Onus to prove - share ...

Case Laws Income Tax

May 30, 2022

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 the 2 persons, in the share capital of the assessee company during the year under consideration, as credit worthiness of these persons could not be proved keeping in view the material on record including income declared in the return of income filed by these persons - Additions confirmed - AT

View Source

← Previous Next →

Addition u/s 68 - unexplained credit - Onus to prove - share ...

Case Laws Income Tax

May 30, 2022

You may also like:

Addition u/s 68 - unexplained share capital receipts - Onus to prove -Addition u/s 68 - unexplained share capital receipts - Onus to prove - SC dismissed the SLP against...

Unexplained cash credits u/s 68 were added due to assessee's failure to discharge onus regarding bogus share capital including premium receipts. Despite filing...

Addition u/s 68 - share capital issued at the premium - unexplained cash credit - Assessee has fully discharged its onus cast under section 68 of the Act and proved the...

Addition u/s 68 - unexplained share premium and share capital - the assessee has substantially provided materials to prove the genuineness of the share holders apart...

Addition u/s 68 - Unexplained share capital - both the nature & source of the share application and premium received by it was fully explained by the assessee. -...

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...

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

In a case concerning unexplained credit u/s 68, the assessee proved the identity and genuineness of share applicants, although their creditworthiness was questioned. The...

Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

Addition u/s 68 - unexplained cash credit - even if the creditworthiness of the investors is not proved, even then it will not automatically give license to the AO to...

Addition u/s 68 - unexplained cash credit - Onus to prove - The High court noted that the assessee had provided sufficient evidence, including bank statements, cash-flow...

Addition u/s 68 - unexplained credit - addition of share application money received - the assessee has proceeded on the basis as if the onus is on the Assessing Officer...

Addition u/s 68 - share application money received as unaccounted cash credit - identity and creditworthiness of the share subscribers and genuineness of the transaction...

The assessee successfully discharged the onus u/s 68 regarding share capital introduced by the company director, a major shareholder, proving identity, creditworthiness,...

Unexplained share capital and premium received by assessee company was its own unaccounted money flowing back in form of premium on share allotment. Assessee filed...

Quick Updates: