Saturday, August 25, 2018

Addition was limited to profit elements when undisclosed purchases were discovered during assessment proceeding

IT: When undisclosed purchases are discovered in course of assessment, it is only profit embedded in said transactions which can be added to total income under section 69C

from www.taxmann.com Latest Case Laws https://ift.tt/2BXjYYH
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...