Depositor's Acknowledgement Shifts Burden: Assessee Firm Cleared u/s 68 of Income Tax Act for Credit Entries.

Depositor's Acknowledgement Shifts Burden: Assessee Firm Cleared u/s 68 of Income Tax Act for Credit Entries. https://www.taxtmi.com/highlights?id=35210 Addition u/s 68 - if the depositor a partner or any other individual owns the entry then the burden of the assessee firm is discharged. It is immaterial whether credits in the name of partners are reflected in the partner’s capital account or current capital account. - AT en-us Sat, 10 Jun 2017 06:29:10 +0530 Sat, 10 Jun 2017 06:29:10 +0530 TaxTMI RSS Generator Depositor's Acknowledgement Shifts Burden: Assessee Firm Cleared u/s 68 of Income Tax Act for Credit Entries. https://www.taxtmi.com/highlights?id=35210 Addition u/s 68 - if the depositor a partner or any other individual owns the entry then the burden of the assessee firm is discharged. It is immaterial whether credits in the name of partners are reflected in the partner’s capital account or current capital account. - AT Highlights Income Tax Sat, 10 Jun 2017 06:29:10 +0530 https://www.taxtmi.com/highlights?id=35210