Supreme Court on Cash Credits under Section 68 of Income Tax Act: Basir Ahmed Sisodiya vs. ITO (2020) Date of the Judgment: 24 April 2020 Citation: Basir Ahmed Sisodiya v. The Income Tax Officer, Civil Appeal No. 6110 of 2009 Judges: A.M. Khanwilkar, J. and Dinesh Maheshwari, J. Can an assessing officer add ‘cash credits’ […]
Supreme Court Upholds Addition of Bogus Share Capital: Principal Commissioner of Income Tax vs. NRA Iron & Steel Pvt. Ltd. (2019) LEGAL ISSUE: Whether the onus of proof is on the assessee to prove the genuineness of share capital/premium credited in their books of account. CASE TYPE: Income Tax Law Case Name: Principal Commissioner of
LEGAL ISSUE: Whether the Income Tax Appellate Tribunal’s (ITAT) order was based on sufficient evidence regarding unexplained cash credits, and if the High Court erred in dismissing the appeal for lack of a substantial question of law. CASE TYPE: Income Tax Law Case Name: Vijay Kumar Talwar vs. Commissioner of Income Tax, Delhi [Judgment Date]:
