Thursday, January 10, 2019

Sec. 68 additions justified as assessee failed to prove that sum deposited in bank was from sale of silver utensils

IT: Where assessee challenged addition made to its income under section 68 in respect of amount deposited in bank contending that said amount came from sale of wearing apparel and traditional silver utensils, since there was no evidence and material to establish sale or inheritance, etc., impugned addition made by authorities below was to be confirmed

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