Unexplained cash credit u/s. 68 - primary onus that lay on the ...

Assessee Proves Identity and Source of Investments, Section 68 Invocation Deemed Inapplicable by Assessing Officer.

April 20, 2023

Case Laws Income Tax AT

Unexplained cash credit u/s. 68 - primary onus that lay on the assessee to establish the identity, genuineness and creditworthiness of the assessee is being proved beyond doubt by the assessee. Further the assessee also proved source of source of the investment made by the three parties. The Ld. A.O. could not disprove the same with necessary evidences, therefore the question of invoking Section 68 does not arise. - AT

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Unexplained cash credit u/s. 68 - primary onus that lay on the ...

Assessee Proves Identity and Source of Investments, Section 68 Invocation Deemed Inapplicable by Assessing Officer.

April 20, 2023

Case Laws Income Tax AT

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