Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Addition u/s 68 - creditor from the foreign country - Even the ...

Income Tax

April 2, 2016

Addition u/s 68 - creditor from the foreign country - Even the AO has also not disputed the identity, source and genuineness of share capital. We are also of the view that it is unnecessary burden upon the assessee by pressuring it to bring the creditor from the foreign country which is contrary to the facts of the case as well as evidence produced by the assessee - AT

View Source

 


 

You may also like:

  1. Addition u/s 68 - investment made by the partners - AO has examined 79 unsecured creditors who appeared before the AO and given statements on oath. All of them have...

  2. 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...

  3. Addition of unexplained cash credit u/s 68 - Due to existing disputes with the parties by the sister concerns of the assessee, the assessee could not procure the...

  4. Addition u/s 68 - whether an assessee who has taken a loan is bound to produce the source of source? - Held No - The appellant having proved the identity and credit...

  5. Addition of share capital u/s 68 - source of source - all the three conditions as required u/s. 68 i.e. the identity, creditworthiness and genuineness of the transaction...

  6. Addition u/s 68 - Once the Books of Accounts and the facts reflected therein showed the source of the fund and the identity of the party and the aspect that Books of...

  7. Addition u/s 68 - The burden is very heavy on the assessee to satisfy cumulatively the ingredients of Section 68 as to identity and establish the credit worthiness of...

  8. Addition u/s 41 - creditor was in dispute - When the matter is in dispute and sub-judice assessee cannot be expected to get a confirmation from the creditor - No addition - AT

  9. Addition u/s 68 - Unexplained cash creditors - once it is established that it is the creditors' money that has found its way in the books of the assessee, no adverse...

  10. Additions u/s 68 - Unsecured loans - The source of such credit was not proved before the authority. Hence, though the identity of the creditor was proved, neither was...

 

Quick Updates:Latest Updates