No Addition u/s 68 to be made as unexplained cash credit if loan creditor had deposited cash before issue of…
Provision of section 68 applicable even if business not commenced but the sum is credited in the books of account…
Meager or nil income of the lender no reason to make addition u/s 68 as bogus enty. Income may be…
Unexplained Cash Credits in Bank Statements held taxable u/s 68. Non production of document is different from not maintaining Books of Account…
Section 68 not attracted to amount representing credit purchases. Findings of ITAT upheld by High Court ABCAUS Case Law…
Tribunal not competent to travel beyond the scope of appeal in making the addition It has to confined itself to questions…
Section 68 applicability to share premium or share application money upheld. Section is widely worded to include capital account receipts-Calcutta…
Section 68 additions not applicable to deposits in bank. The bank Pass Book or bank statement are not books of…
No additions us 68-accounts not maintained us 44AF under presumptive taxation. The section operates only where books are maintained and…
In a recent judgment, ITAT Chennai has stated that consent/acceptance given by assessee could not give jurisdiction and a right to the assessing…