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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Addition of undisclosed income u/s 68 – Gift received from ...

Income Tax

December 19, 2014

Addition of undisclosed income u/s 68 – Gift received from brother – as per sec. 68, the assessee is required to explain the capacity of the lender to advance money to the assessee to the satisfaction of the AO - additions confirmed - AT

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  10. Addition u/s 68 - assessee has received share application money as unexplained - In the instant case, assessee has only established identity of the creditor,...

  11. Addition of income being gift of India Millennium Deposit received as unexplained credit u/s 68 - genuinity stands proved - no addition - AT

  12. Addition of gift u/s 68 - there is no discrepancy in the Gift to the director of the assessee company. The donor is the real brother of recipient of the Gift. - CIT(A)...

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