Section 68

The Important Highlights Of The Anil Chhaganlal vs. ACIT Case 3 min read

• Income Tax News and Analysis

The Important Highlights Of The Anil Chhaganlal vs. ACIT Case

Rebecca Ghomes 8 years ago

The Case of Anil Chhaganlal vs. ACIT was held in ITAT Mumbai. It falls under the Section 68 of the Income Tax Act.   What... Read More

Receipt of share premium can’t be assessed as unexplained credit where the transaction, identity of the payer and capacity of the subscriber are genuine 3 min read

• Income Tax

Receipt of share premium can’t be assessed as unexplained credit where the transaction, identity of the payer and capacity of the subscriber are genuine

Sourav 8 years ago

As per section 68 of the Income Tax Act, if the shares are issued at the premium which defies commercial prudence, the receipt of such... Read More

Digging deeper into unexplained cash credit as per provisions of Section 68 3 min read

• Income Tax

Digging deeper into unexplained cash credit as per provisions of Section 68

Rebecca Ghomes 8 years ago

It is a strange world nowadays where even corruption carries creativity with innovative tax evasion techniques cropping up every other day. Black money routed through... Read More

No addition under section 68 if one can prove the authenticity of a transaction 4 min read

• Income Tax

No addition under section 68 if one can prove the authenticity of a transaction

Manager 8 years ago

Prove Authenticity of Transaction to avoid Addition under Section 68 The Delhi High Court in the case of Commissioner of Income Tax vs. Gangeshwari Metal... Read More

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour 3 min read

• Income Tax

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour

Sourav 8 years ago

If you have got any credit in Bank account, that may not necessarily be an explained income. In some cases even if the assessee has... Read More

Section 115BBE and 68: Taxation of unexplained income 2 min read

• Income Tax

Section 115BBE and 68: Taxation of unexplained income

Sourav 8 years ago

Here in this blog, we try to highlight the unrecognized Section 115BBE of the Income-tax Act, which was applicable from the assessment year 2013-14. Unexplained investment,... Read More