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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Addition u/s 68 - no addition can be made in the hands of the ...

Income Tax

November 6, 2015

Addition u/s 68 - no addition can be made in the hands of the Assessee under Section 68 of the Act and it will be open to the Revenue to move against the share applicants in accordance with law. - HC

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  2. Protective addition made in the hands of the assessee - addition u/s 68 - the Revenue cannot take different stand in respect of these two assessee.

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  4. Addition u/s 69C OR 68 - Addition of share application money - Wrong mention of section - opening balance was carried forward - it is outside the ambit of section 68 - No addition.

  5. Addition u/s 68 - unexplained share application money - It is not a case that the assessee had filed merely a confirmatory letters of share applicants but it is a case...

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  7. Addition u/s 68 - increase in share capital and share premium - As source of source is proved by the assessee in the instant case though the same is not required to be...

  8. Addition u/s 68 – Genuineness of transaction in shares - genuine or sham and bogus – Revenue in failing to discharge the basic onus - inquiry was not carried forward -...

  9. Addition u/s.69 or 68 - assessee has paid on-money towards purchase of property to the seller - The assessee is only owner of 1/3rd share in the property purchased. -...

  10. Power of CIT(A) in enhancing the addition - violating the law u/s 251(2) - enhancement of addition made u/s. 68 - the assessee had discharged its onus to prove the...

 

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