section 68

Judgements IT
No Addition Under Sections 68 & 69C for Penny Stock Cases Without Concrete Evidence
Penny stocks have long been a magnet for tax scrutiny in India. Their low price, high volatility, and occasional misuse for accommodation entries have made them a favourite target for…
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Income Tax
Section 68, Gift: Onus on assessee to prove that donors had financial capacity to give gifts
The Honorable Supreme Court in its judgement dated 12th September, 2012 has held that the onus to prove that the donors of gift has financial capacity to give gifts is…
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