Thursday, December 10, 2020

Additions under section 69B couldn't be made merely relying on confession statement obtained during search

INCOME TAX : Where Assessing Officer made addition in hands of assessee firm for unaccounted investment and purchases merely on basis of confessional statement of assessee firm's partner before DRI, but no other evidences were bought on record, said addition was to be deleted

from www.taxmann.com Latest Case Laws https://ift.tt/370Eo06

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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...