Addition u/s 68 - genuineness of the credits - Unexplained ...

Section 68 Income Tax Act: Partner's affidavit fails to prove financial capacity, confirming Revenue's doubts on unexplained investments.

May 17, 2022

Case Laws Income Tax AT

Addition u/s 68 - genuineness of the credits - Unexplained investment by a partner - The affidavit by the partners (not on record), would only operate as a confirmation from them and, thus, only proves their identity, while, as afore-discussed, both the capacity and the genuineness are highly suspect and, therefore, rightly doubted and found as not satisfactorily explained by the Revenue. - Additions confirmed - AT

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Addition u/s 68 - genuineness of the credits - Unexplained ...

Section 68 Income Tax Act: Partner's affidavit fails to prove financial capacity, confirming Revenue's doubts on unexplained investments.

May 17, 2022

Case Laws Income Tax AT

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