Assessee Proves Compliance with Section 68 of Income Tax Act; No Bogus Share Capital or Extra Tax Liabilities Found.

Assessee Proves Compliance with Section 68 of Income Tax Act; No Bogus Share Capital or Extra Tax Liabilities Found. https://www.taxtmi.com/highlights?id=48280 Additions u/s 68 - assessee has discharged the onus cast on it by proving all the three ingredients of section 68, namely, the identity and credit worthiness of the persons and the genuineness of the transaction. Further, it is not a case of issue of any bogus share capital with high premium. - No additions. en-us Tue, 30 Jul 2019 07:34:32 +0530 Tue, 30 Jul 2019 07:34:32 +0530 TaxTMI RSS Generator Assessee Proves Compliance with Section 68 of Income Tax Act; No Bogus Share Capital or Extra Tax Liabilities Found. https://www.taxtmi.com/highlights?id=48280 Additions u/s 68 - assessee has discharged the onus cast on it by proving all the three ingredients of section 68, namely, the identity and credit worthiness of the persons and the genuineness of the transaction. Further, it is not a case of issue of any bogus share capital with high premium. - No additions. Highlights Income Tax Tue, 30 Jul 2019 07:34:32 +0530 https://www.taxtmi.com/highlights?id=48280