Addition u/s 68 - when the donors were examined by the ...

Income Tax

September 5, 2012

Addition u/s 68 - when the donors were examined by the Assessing Officer on oath and they conformed the transaction of gift through banking channel and by cheques, than there is no scope of any doubt of identity and creditworthiness of the donor. - AT

View Source

← Previous Next →

Addition u/s 68 - when the donors were examined by the ...

Income Tax

September 5, 2012

You may also like:

Addition u/s 68 - gift received from mother-in-law - Once the gift is treated as genuine, it is immaterial what the assessee does with that money thereafter. - Since the...

Addition u/s 68 r.w.s. 115BBE - Bogus LTCG - The Tribunal examined the transactions and found that the entire addition made by the Assessing Officer was based on...

Revision u/s 263 by CIT - Addition u/s 68 - the transaction has never been examined by the assessing officer. No enquiry has been conducted relating to the alleged sum....

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 - So far as the two other donors are concerned, we find that both of them are agriculturist which is supported by their land holdings. The amounts of...

Addition of sum received as "Gift" by the assessee from his "father" - The donor is about 85 years old and the amount has been gifted to his own son through a gift deed...

Addition u/s 68 OR 41(1) - unexplained cash credit - Cessation of liability - The appellant contested additions to their income, alleging bogus sundry creditors. Despite...

Addition u/s 68 - The CIT(A) has observed that the transactions was part of the turnover/sale, whereas the addition has been made under Section 68 of the Act without...

Addition u/s 68/56(2)(v) - Donors very grim financial background does not justify gift of such a large sum, creditworthiness/financial capacity of donors not proved....

Addition u/s 68 - Each one of them has confirmed the MCX transaction and the confirmation account of each individual customers, transaction by transaction was submitted...

Addition u/s 68 - Simply because the directors/shareholders did not present themselves before the Assessing Officer, an addition u/s 68 cannot be made.

Addition of gift u/s 68 - there is no discrepancy in the Gift to the director of the assessee company. The donor is the real brother of recipient of the Gift. - CIT(A)...

Addition u/s 68 - cash credit in the books of accounts - issue of shares warrant - As assessee has submitted the complete details before the assessing officer and...

Addition u/s 68 - proof of source of the donor - Gift from his brother (relative) - The assessee had not proved his brother's source of income to the Department - demand...

Addition u/s 68 - The assessee has failed in establishing the creditworthiness of the donors, occasion for making the gifts and why and donors who were strangers and not...

Quick Updates: