Assessee cannot be asked to prove source of source under Section 68 By Anand Gupta TaxGuru

Assessee cannot be asked to prove source of source under Section 68 ACIT Vs S.P. Singla Construction P. Ltd. (ITAT Delhi) Income Tax Act, 1961, Section 68 Conclusion: In present facts of the case, the Hon’ble Tribunal dismissed the Revenue appeal under Section 6 of the Income Tax Act and held that that assessee discharged its initial onus to prove the identity of the Investors, their creditworthiness […]

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