Non-filing of ITRs by lenders can give rise to suspicion for the lack of creditworthiness but not sufficient to draw…
Can Income Tax Authorities be held in contempt of Court in not following their judgments cited before them by the…
Addition for bogus purchases as unexplained cash credits whether u/s 68 or u/s 41(1) as cessation of liability? No additions…
Bank passbook / statements not books of account of assessee and hence no addition can be made u/s 68 of…
Deeming provision of section 68 not apply if no sum is received in terms of any money, i.e., in cash…
Mere TDS deduction not decisive factor to treat payment received as income of the assessee ABCAUS Case Law Citation:ABCAUS 3347…
Cash credit entries in books of a firm, in absence of material to indicate that they were its profits, could…
Expression “any previous year” in Section 68 refers to previous year relevant to the Assessment Year in question - High…
Section 68 not applicable to sales receipt shown in books of accounts. A Receipt can not be treated sale proceeds…
Addition u/s 68 upheld as cash was deposited in bank by the loan creditor immediately before transfer and was poor…