Tax Lok English Viedo
Know about our powerfull on-line library on GST & Income Tax
Know about our powerfull on-line library on GST & Income Tax
Tax Lok Hindi Viedo

Latest Income-Tax Details

For Full Access To All Latest Judgments on Income Tax
Click Here To Subscribe Now
Take a tour of our Income-Tax Library

Merely filing Nil return by lender, if the sources are clearly established with overwhelming evidences of the bank statements of all the concerned parties duly supported by the annual accounts, cannot lead to addition in the hands of the borrower.

Sec. 68 of Income Tax Act, 1961—Cash Credit— NBFC companies who have limited earning but lent the money out of the money borrowed will never pass the test of section 68, thus, merely filing Nil return by lender, if the sources are clearly established with overwhelming evidences of the bank statements of all the concerned parties duly supported by the annual accounts, cannot lead to addition in the hands of the borrower under section 68 - SUPREME BUILD-CAP PVT. LTD. V/s ASSTT. CIT - [2020] 27 ITCD Online 027 (ITAT-DELHI)
Tax Lok English Viedo
Tax Lok Hindi Viedo
Know about our powerfull on-line library on GST & Income Tax
Know about our powerfull on-line library on GST & Income Tax
whatsapp with taxlok SUBSCRIBE OUR MAGAZINE

FOR FREE CONDUCTED TOUR OF OUR ON-LINE LIBRARIES WITH OUR REPRESENTATIVE-- CLICK HERE