17 results for “section 68”+ Section 161(1)clear
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In the result, the appeals filed by the Revenue for AY 2011-
Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad
161 (SC), we note that Hon’ble Supreme Court in para 8.2 of the said decision has made the following observations: “8.2 As per settled law, the initial onus is on the Assessee to establish by cogent evidence the genuineness of the transaction, and credit- worthiness of the investors under Section 68 of the Act. The assessee is expected