Assessee Fails to Prove Remittances as Capital, Not Revenue, Under Indian Income Tax Act. Onus on Assessee.

Assessee Fails to Prove Remittances as Capital, Not Revenue, Under Indian Income Tax Act. Onus on Assessee. https://www.taxtmi.com/highlights?id=23412 Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of the capital fund of a Discretionary Trust situated out of India - It will be mockery of the Indian Income Tax Act that the onus is on the AO to prove that the assessee has received revenue receipts - AT en-us Sat, 20 Jun 2015 06:40:43 +0530 Sat, 20 Jun 2015 06:40:43 +0530 TaxTMI RSS Generator Assessee Fails to Prove Remittances as Capital, Not Revenue, Under Indian Income Tax Act. Onus on Assessee. https://www.taxtmi.com/highlights?id=23412 Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of the capital fund of a Discretionary Trust situated out of India - It will be mockery of the Indian Income Tax Act that the onus is on the AO to prove that the assessee has received revenue receipts - AT Highlights Income Tax Sat, 20 Jun 2015 06:40:43 +0530 https://www.taxtmi.com/highlights?id=23412