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Sec 68 Can Be Invoked Only If Taxpayer Fails To Explain Amount Found Credited In Its Books: Mumbai ITAT

The Mumbai ITAT upheld the CIT(A) s order to delete the addition made u/s 68 of the Income Tax Act, 1961 finding no unexplained cash credit in the books of assessee.The Bench of Pavan Kumar Gadale. ....

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Meagre Control Over Companies Transacting In Penny Stock Is No Basis To Question Source Of Source Of Income: Delhi ITAT

On not finding any substance in the conclusion of AO that the source of source of income is tainted, the Delhi ITAT confirms the deletion of addition made u/s 68 of Income Tax Act.The Bench comprising. ....

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Can the 'source of fund' rule in Budget hinder non-VC investments in start-ups?

Union Budget 2022 , which had the theme of digital embossed all over it, has received mixed response from the start-up community. ....

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