https://www.taxtmi.com/highlights?id=104694 Income Declaration Scheme declarations provide personal immunity only to declarants, but an accepted, tax-paid declaration may evidence the true source of share-capital and share-premium credits in another taxpayer's books where it specifically covers the credits and remains unrebutted; taxing that same income again risks double taxation. Before the source-of-source proviso applied, the taxpayer's burden for such credits was limited to identity, genuineness and creditworthiness, although apparent routing of its own advances through intermediaries required verification of commercial rationale. A banking trail alone does not exclude prior cash funding, requiring examination of relevant admissions. A search statement directly linking accommoda..... en-us Thu, 08 Oct 2026 08:45:20 +0530 Thu, 08 Oct 2026 08:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104694 Income Declaration Scheme declarations provide personal immunity only to declarants, but an accepted, tax-paid declaration may evidence the true source of share-capital and share-premium credits in another taxpayer's books where it specifically covers the credits and remains unrebutted; taxing that same income again risks double taxation. Before the source-of-source proviso applied, the taxpayer's burden for such credits was limited to identity, genuineness and creditworthiness, although apparent routing of its own advances through intermediaries required verification of commercial rationale. A banking trail alone does not exclude prior cash funding, requiring examination of relevant admissions. A search statement directly linking accommoda..... Highlights Income Tax Thu, 08 Oct 2026 08:45:20 +0530 https://www.taxtmi.com/highlights?id=104694