Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Addition u/s 68 - If assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants by placing PAN details, bank account statements, audited financial statements and Income Tax acknowledgments then the onus shifted to AO to disprove the materials placed before him. Without doing so, the addition made by the AO will not sustain.
Addition u/s 68 - If assessee had discharged its onus to prove the identity, creditworthiness and genuineness of the share applicants by placing PAN details, bank account statements, audited financial statements and Income Tax acknowledgments then the onus shifted to AO to disprove the materials placed before him. Without doing so, the addition made by the AO will not sustain.
Note: It is a system-generated summary and is for quick reference only.
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