Section 68 Credit Issue: Insufficient Proof from Confirmatory Letters for Fixed Deposit Scheme Under Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Unexplained Credit – Addition u/s 68 - Money borrowed through fixed deposit in a scheme under the Company (acceptance of deposit) Rule, 1975 - mere filing of the confirmatory letters will not discharge the onus that lies on the assessee - AT....