Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT deletes Income Tax Addition [Read Order]

By Yogitha S. Yogesh - On December 14, 2022 5:40 pm - 2 mins read

Source of Funds - Non-Residents - ITAT - Income Addition - taxscan

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the condition of proving “source of source of funds” under 68 of the Income Tax Act,1961 does not apply to non-residents. The revenue challenged the order of the CIT(A) in deleting ‘Addition u/ s 68 of the Income Tax Act,1961 amounting to…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics