Addition u/s 68 cannot be made where the assessee explains the source of the capital contribution, established the identity of the creditor and also credit worthiness of the parties.
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477 total views ASSISTANT COMMISSIONER OF INCOME TAX vs. MULPURI FOODS AND FEEDS PVT. LTD. VISHAKAPATNAM TRIBUNAL ITA No. 292/Viz/2017 Sep 26, 2018 (2018) 54 CCH 0044 VishakapatnamTrib Legislation Referred to Section 68, 263 Case pertains to Asst. Year 2012-2013 Decision…
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