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 January 2017 Year 2017 This

Unexplained cash credits u/s.68 - amount collected on behalf of ...

Income Tax

January 30, 2017

Unexplained cash credits u/s.68 - amount collected on behalf of its sister concern - all three relevant parameters of identity, genuineness and creditworthiness have not been discharged at assessee’s behest in its endeavor to delete the impugned addition - AT

View Source

 


 

You may also like:

  1. Amount which was credited in books of accounts of the assessee in the preceding year cannot be treated as unexplained cash credit u/s 68 in the relevant assessment year.

  2. Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

  3. Addition u/s 68 - Unexplained cash credit - It is well settled principle that the repayment of cash credit would not prove the genuineness of cash credit. It is the...

  4. Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

  5. Addition u/s 68 - Unexplained cash credit - CIT(A) accepted the source of cash deposits without any supporting documents, the issue require detailed enquiry with regard...

  6. Addition u/s 68 - unexplained cash credit - if the AO wanted to disbelieve the identity, credit-worthiness and genuineness of transaction of cash depositors with the...

  7. Unexplained Cash Credit - in case of capital contributed by a shareholder, the identity of the shareholder is only required to be proved - HC

  8. Addition u/s 68 - receipt of gift - the primary onus to establish the identity and creditworthiness of the concerned donors as well as the genuineness of the relevant...

  9. Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

  10. Unexplained cash credit under section 68 - assessee has failed to establish the genuineness of the credits. - AT

 

Quick Updates:Latest Updates