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Income Tax - Highlights / Catch Notes

Home Highlights November 2018 Year 2018 This

Addition u/s 68 - it would be reasonable to believe the ...

Income Tax

November 14, 2018

Addition u/s 68 - it would be reasonable to believe the contention of the assessee of having received the initial finance from his father by way of a gift - Therefore, the genuineness of the transaction and also the creditworthiness of the father has been established.

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  1. Addition u/s 68 - gifts received from NRI - the assessee’s plea of having received gift deserves acceptance. - AT

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

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  6. Addition u/s 68 - unexplained amounts received towards Share Capital money - entry operators - HC

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

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