Ask Jurishour AI

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
tdb_templates
saswp_reviews
saswp-collections
saswp_rvs_location
tdc-review-email
web-story-font
web-story
googlesitekit_email
tds_locker
tds_email
saswp
mailpoet_page
mailpoet_email
tdcpt_tunes
tdc-review
pronamic_payment
pronamic_gateway
pronamic_pay_subscr
wpcode
HomeDirect TaxS. 68 First Proviso Applies Only To Companies, Not Partnership Firms: ITAT 

S. 68 First Proviso Applies Only To Companies, Not Partnership Firms: ITAT 

Direct Tax

Published on

By Mariya Paliwala
ITAT

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the first proviso to Section 68 of the Income Tax Act, 1961 requiring an assessee to explain the “source of source” applies only to companies and not to partnership firms.  The bench of Narender Kumar Choudhry (Judicial Member) and Prabhash Shankar (Accountant Member)…

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here
Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Latest articles

Supreme Court

Pre-Regularisation Service Must Count for Pension; Employees Can Choose Old Pension Scheme: Supreme Court

The Supreme Court has held that service rendered by employees on a contractual, ad...
Supreme Court

No Conviction Under Prevention of Corruption Act Without Proof of Pecuniary Advantage: Supreme Court

The Supreme Court has held that a public servant cannot be convicted under Section...
Supreme Court

Related Eyewitnesses’ Testimony Requires Closer Scrutiny When It Bears ‘Ring of Falsity’: Supreme Court 

The Supreme Court has acquitted two persons convicted of murder after finding material discrepancies...
Columns

ONE CLOCK. DIFFERENT SUNSETS – THE IMPORTANCE OF TIME AND SEQUENCE IN NDPS INVESTIGATIONS

The Article "ONE CLOCK. DIFFERENT SUNSETS - THE IMPORTANCE OF TIME AND SEQUENCE IN...

More like this

Supreme Court

Pre-Regularisation Service Must Count for Pension; Employees Can Choose Old Pension Scheme: Supreme Court

The Supreme Court has held that service rendered by employees on a contractual, ad...
Supreme Court

No Conviction Under Prevention of Corruption Act Without Proof of Pecuniary Advantage: Supreme Court

The Supreme Court has held that a public servant cannot be convicted under Section...
Supreme Court

Related Eyewitnesses’ Testimony Requires Closer Scrutiny When It Bears ‘Ring of Falsity’: Supreme Court 

The Supreme Court has acquitted two persons convicted of murder after finding material discrepancies...