Addition u/s 68 - assessee has discharged the initial onus cast ...

Assessee Proves Identity and Genuineness of Transaction; Revenue Fails to Link Undisclosed Income to Share Capital u/s 68.

March 6, 2019

Case Laws Income Tax AT

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 investor company u/s 143(3) - no linkage which can be said to have been established by the Revenue between the assessee’s undisclosed income which is routed back in form of share capital - addition not sustainable.

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Addition u/s 68 - assessee has discharged the initial onus cast ...

Assessee Proves Identity and Genuineness of Transaction; Revenue Fails to Link Undisclosed Income to Share Capital u/s 68.

March 6, 2019

Case Laws Income Tax AT

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