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Income Tax - Highlights / Catch Notes

Home Highlights December 2017 Year 2017 This

Addition u/s 68 - the creditworthiness of the investors could ...

Income Tax

December 7, 2017

Addition u/s 68 - the creditworthiness of the investors could never be established once it was found that there was no person existing who may have entered into such a transaction - HC

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  1. Additions u/s 68 - Merely by providing the Income Tax Return and PAN number is not enough to establish the creditworthiness and genuineness of the unsecured loans.

  2. Addition on account of un-explained loan - assessee discharged its initial onus to prove the identity of the investor company, its creditworthiness and genuineness of...

  3. Addition u/s 68 - bogus share capital & share premium - The assessee failed to prove that the transactions of share application money is genuine and the creditworthiness...

  4. Addition u/s. 68 - satisfaction regarding the identity and creditworthiness of the 13 investors who have invested in the share capital of the assessee company and the...

  5. Addition on account of share capital/premium received - The income/losses declared by the investor companies is not a sole criterion to examine the creditworthiness of...

  6. Addition u/s 68 on account of unsecured loans from directors - Assessee has failed to show creditworthiness of both the lenders. - additions confirmed.

  7. Addition u/s 68 - share capital and share premium - allegation regarding identity and creditworthiness - non appearance of director - addition cannot be sustained merely...

  8. Addition u/s 68 - assessee has discharged the initial onus cast on it in terms of identity, creditworthiness and genuineness of the transaction - Genuineness accepted in...

  9. Addition u/s 68 - unexplained cash credit - unsecured loan - the assessee has not been able to establish the creditworthiness of lender nor has he been able to establish...

  10. Unexplained cash credit u/s 68 - Investor had returned income of ₹ 530/-. Therefore, it is necessary that what was the source of investment of the investor has to...

 

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