Addition u/s 68 - cash credit in the books of accounts - issue ...

Assessing Officer Accepts Cash Credit u/s 68; No Further Inquiry Needed on Share Warrants Issuance.

January 28, 2021

Case Laws Income Tax AT

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 therefore the initial onus cast on the assessee has been discharged. Further, the learned assessing officer has also not made any enquiry with respect to the above depositors. The inquiries made in the subsequent years clearly show that assessing officer is satisfied with respect to the creditworthiness and the genuineness of the transaction - AT

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Addition u/s 68 - cash credit in the books of accounts - issue ...

Assessing Officer Accepts Cash Credit u/s 68; No Further Inquiry Needed on Share Warrants Issuance.

January 28, 2021

Case Laws Income Tax AT

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