Addition u/s 68 - genuineness and credit worthiness - It is ...

Case Laws Income Tax

December 27, 2022

Addition u/s 68 - genuineness and credit worthiness - It is evident that the assessee though has disclosed the source of the deposit but could not establish the nature thereof. Three conditions which are required to be proved by the Assessee as per Section 68 of the Income Tax Act, 1961, could not be proved by him. The burden would, therefore, not shift on the revenue, as the assessee has failed to discharge her burden. - HC

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Addition u/s 68 - genuineness and credit worthiness - It is ...

Case Laws Income Tax

December 27, 2022

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