Addition u/s 68 - the theory of gift was not established by the ...

Income Tax

December 31, 2018

Addition u/s 68 - the theory of gift was not established by the assessee. The so called transfer through an NRO account was also self-serving because, the amount was transferred through telegraphic transfer and the source of transfer was not established as to how it was relatable to the donor

View Source

← Previous Next →

Addition u/s 68 - the theory of gift was not established by the ...

Income Tax

December 31, 2018

You may also like:

Addition u/s 68 – Amount claimed to be exempted as gift received from non-resident Indians - genuineness of the transaction is not established by the assessee - HC

Unexplained credit u/s 68 - peak credit theory - CIT(A) has rightly rejected the claim of the assessee of adopting peak theory for considering unexplained credit - AT

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

Addition u/s 68 on account of claim of gifts - mere claim of gift would not fall in the ambit of provisions of section 56(2)(vii) - when the assessee has failed to...

Bogus sales promotion expenses - The details of MR's who distributed the gifts also therefore does not establish the fact of gift having been actually distributed by the...

Addition of gifts u/s. 68 - genuineness of the gifts - unable to produce the donor - The document produced by the assessee that is bank statement, ITR, Gift deed, bank...

Bogus purchases - The assessee has only produced certain self-serving evidences in a straight-jacket formula normally collected in this type of transaction - Additions confirmed.

Unexplained deposits in the bank - sale of land - Affidavit of assessee is a self serving document, therefore, on the basis of affidavit, the additions made by the AO...

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...

Addition u/s 68 - it is seen that the this Gift is given from donor's NRE bank account maintained with Axis Bank. It entails particulars of cheque number, date of giving...

Quick Updates: