Additions u/s 68 - burden of proof - Admittedly in the instant ...

Income Tax

October 13, 2020

Additions u/s 68 - burden of proof - Admittedly in the instant case, the assessee has provided the explanation, such explanation was found acceptable by the AO for the previous and subsequent Assessment Years. AO did not record a specific note of his satisfaction / dissatisfaction with regard to those three persons. - Additions deleted - HC

View Source

← Previous Next →

Additions u/s 68 - burden of proof - Admittedly in the instant ...

Income Tax

October 13, 2020

You may also like:

Penalty u/s 271(1)(c) on addition made u/s 68 - the assessee has given sufficient explanation though not found satisfactory by AO - No merit in levying penalty.

Unsecured loan u/s 68 - Bogus cash credits - where there is a statutory rebuttable presumption against the assessee, as in case of cash credits etc., u/s 68 or...

Addition u/s 68 - unexplained share application money - The Tribunal noted that the assessee provided complete details of the share subscribers, their financial...

Addition u/s 68 r.w.s. 115BBE - assessment framed u/s 143(3) - amount being inheritance from his father by way of will - Burden to prove - where the assessee has...

Unexplained cash deposit in the NRO bank account - Additions u/s 69 - once the assessee has provided an explanation which in the instant case, we find reasonable and...

Undervaluation of goods - Mutuality of interest - interconnected undertaking - Burden of proof - Mere allegation that there was mutuality of interest remained unproved...

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...

Non disapproving the documents furnished by the assessee to discharge the initial burden placed upon it u/s 68 - additions deleted - AT

Addition u/s 68 - depositor is one of the directors of the company - To discharge the burden which Section 68 casts upon the assessee, at least some plausible...

Addition u/s 68 - evidences about the receipt of the cash and repayment of the cash despite those persons having proper bank account - whole explanation of the assessee...

Quick Updates: