Bogus Sales, Income Tax

[Alpa Shah]

'A' has shown sales and received the amount through banking channel in the same year and has disclosed the said transactions in the books of accounts. Lateron the purchaser has accepted before the department that he is engaged in the business of cheque discount and also issue cheques to other party if require.

LAO assessed the receipt of said amount u/s 68 of the Act.

Posts / Replies

[KASTURI SETHI]

What is query ?

[Alpa Shah]

Whether LAO resort to addition of the alleged amount u/s 68 of the Act ?