Home Highlights January 2013 Year 2013 This

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1. Addition u/s 68 - unsecured loans - addition only on the basis of the information received from the Investigation Wing ignoring - the investing company has sufficient...

2. Addition on account of un-explained loan - assessee discharged its initial onus to prove the identity of the investor company, its creditworthiness and genuineness of...

3. Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of...

4. Genuineness of expenditure paid to Doctor - ITAT placed an unfair burden on the Assessee to prove that the above expense was incurred bonafide for the business purposes...

5. 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...

6. Unexplained creditor u/s. 68 - onus to prove - The ITAT ruled that once the identity of the creditor and the genuineness of the transaction are established, proving the...

7. 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...

8. Addition u/s. 68 being unsecured loans - onus to prove - The ITAT held that, primary onus can be discharged by establishing/furnishing the proof of the identity of the...

9. 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...

10. Benami transactions - offence under Benami Act - onus of proving a benami transaction - after amendment, the onus of proving a benami transaction rests entirely on the...

11. Commission payment - deduction u/s 37 - assessee has failed to discharge the initial onus to prove that the expenditure incurred under the heads rendering of services by...

12. Deduction u/s 80IC - Since in the present case the fact that the assessee had undertaken substantial expansion is not disputed, the assessee, we hold, is entitled to...

13. Addition on account of alleged on-money - Applicability of section 50C - The assessee has duly discharged the onus of proving that the sale consideration as actually...

14. Deduction u/s 80IA - Onus is on the assessee to prove strictly that assessee fulfills all the parameters laid down by the statute for claiming the deduction. In the...

15. Clandestine production and removal - onus to prove - The submission of the revenue that by the recovery of the notebooks, they have discharged the burden and the onus to...