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Income Tax - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Unexplained cash credit u/s 68 - Genuineness of the transaction ...

Income Tax

May 5, 2023

Unexplained cash credit u/s 68 - Genuineness of the transaction is in serious doubt because why some private limited companies would invest a huge sum into the share capital of a company having no regular business activity and no concrete plan for any expansion. - The assessee has failed to discharge its onus to explain the genuineness of the transaction - Additions confirmed - AT

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