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Section 68 Update: Assessees Must Prove Nature and Source of Share Capital from AY 2013-14 Onwards.

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Full Text of the Document

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....Addition made in respect of share capital contribution received - The proviso in section 68 has been inserted w.e.f.1.4.2013 and therefore, the onus to prove the nature and source of such sum so credited shall be on the assessee only from assessment year 2013-14 not prior to that. - AT....