Suspension of insolvency professional registration prevents continued Resolution Professional appointments and restricts interim stays that effectivel...
Original works exemption for railway contracts depends on actual integrated construction scope, while accessible tax data defeats suppression allegati...
Survey surrender characterisation determines whether mixed excess stock and business-linked cash face normal taxation or special deemed-income taxatio...
Section 68 places the initial burden on an assessee to establish, through cogent evidence, each loan creditor's identity, financial capacity and the genuineness of the transaction. Unsecured loans may be treated as unexplained cash credits where creditors deny making advances or cannot explain the source of the funds advanced, demonstrating that their creditworthiness has not been established. Failure to discharge this burden supports an addition for unexplained cash credits.
Section 68 places the initial burden on an assessee to establish, through cogent evidence, each loan creditor's identity, financial capacity and the genuineness of the transaction. Unsecured loans may be treated as unexplained cash credits where creditors deny making advances or cannot explain the source of the funds advanced, demonstrating that their creditworthiness has not been established. Failure to discharge this burden supports an addition for unexplained cash credits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4899 
