When the expenditure was not recorded in the books of account ...

Unrecorded expenditure without explanation is deemed income, not deductible in the financial year under tax rules.

September 10, 2013

Case Laws Income Tax AT

When the expenditure was not recorded in the books of account and the assessee failed to offer satisfactory explanation about the nature and source of such expenditure, there could arise no question of treating the value of such expenditure, which was deemed to be the income of the assessee, as deductible expenditure in the financial year - AT

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When the expenditure was not recorded in the books of account ...

Unrecorded expenditure without explanation is deemed income, not deductible in the financial year under tax rules.

September 10, 2013

Case Laws Income Tax AT

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