Unexplained cash credit u/s 68 - Director-promoter of the ...

Income Tax

November 21, 2020

Unexplained cash credit u/s 68 - Director-promoter of the lending companies have already confessed during the survey action that the lending companies controlled by them are bogus companies engaged in providing accommodation entries - the assessee has discharged the onus cast upon him as he has filed all the documents proving identity , creditworthiness of the parties and genuineness of the transactions and therefore the addition can not be made u/s 68 - AT

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Unexplained cash credit u/s 68 - Director-promoter of the ...

Income Tax

November 21, 2020

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