Unsecured loan u/s 68 - Bogus cash credits - where there is a ...

Unsecured Loans and Bogus Cash Credits: Initial Burden of Proof on Assessee u/s 68 Income Tax Act.

July 13, 2022

Case Laws Income Tax AT

Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or unexplained investment u/s 69, the initial burden of proof is on the assessee to show that the cash credit is genuine or the investment is not unexplained. The AO should, therefore, always examine as to who has to discharge the burden of proof. - AT

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Unsecured loan u/s 68 - Bogus cash credits - where there is a ...

Unsecured Loans and Bogus Cash Credits: Initial Burden of Proof on Assessee u/s 68 Income Tax Act.

July 13, 2022

Case Laws Income Tax AT

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