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Income Tax - Highlights / Catch Notes

Home Highlights November 2012 Year 2012 This

Invoking Section 68 involves three ingredients, namely, the ...


Proving Identity, Creditworthiness, and Genuineness Essential to Invoke Section 68 for Share Transactions.

November 20, 2012

Case Laws     Income Tax     HC

Invoking Section 68 involves three ingredients, namely, the proof regarding identity of the share applicants, their creditworthiness to purchase the shares and the genuineness of the transaction as a whole. - HC

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  10. Addition u/s 68 - genuineness of the transaction - share capital and share premium - identity and creditworthiness of the investors - the genuineness of the transaction...

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  13. The ITAT allowed the assessee's appeal. The assessee furnished all evidence proving identity, creditworthiness of investors, and genuineness of transactions regarding...

  14. Power of CIT(A) in enhancing the addition - violating the law u/s 251(2) - enhancement of addition made u/s. 68 - the assessee had discharged its onus to prove the...

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