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Income Tax - Highlights / Catch Notes

Home Highlights January 2022 Year 2022 This

Assessment u/s 153A - beneficiary of bogus LTCG - Addition u/s ...

Income Tax

January 3, 2022

Assessment u/s 153A - beneficiary of bogus LTCG - Addition u/s 68 - onus to prove - The whole basis of making additions is third-party statement and no opportunity of cross-examination has been provided to the assessee to confront these parties. As against this, the assessee’s position that that the transactions were genuine and duly supported by various documentary evidences, could not be disturbed by the revenue. - Additions deleted - AT

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