TMI BlogAddition u/s 68 - unexplained credit - addition of share application money received - the assessee has...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 to demonstrate that the share subscriptions in question are malafide and cooked up and that the assessee has introduced his own unaccounted money by way of these share subscriptions; that is certainly incorrect. The burden is thus on the assessee to prove the nature and source of credits in his books of accounts, to the satisfact..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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