Tag Archives: Principal Commissioner

Section 69 and Section 115BBE cannot apply without findings of undisclosed assets or investments.

By | September 1, 2026

Section 69 and Section 115BBE cannot apply without findings of undisclosed assets or investments. Issue Whether the higher tax rate under Section 115BBE read with Section 69 can be invoked without establishing the unearthing or existence of any undisclosed or unaccounted investment. Facts Assessment Year: AY 2018-19. Revision Order: The Principal Commissioner of Income Tax… Read More »

Capital contribution received from newly inducted partner via demand drafts cannot be taxed under Section 68.

By | August 10, 2026

Capital contribution received from newly inducted partner via demand drafts cannot be taxed under Section 68. Issue Whether an addition made under Section 68 of the Income-tax Act, 1961 / Section 102 of the Income-tax Act, 2025 as an unexplained cash credit is sustainable when a partner’s capital contribution is received through demand drafts and… Read More »