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Income Tax - Highlights / Catch Notes

Home Highlights August 2014 Year 2014 This

Additions u/s 68 - As the explanation offered by the assessee ...


Section 68 Amendments: Taxpayer's Explanation on Credited Sums Deemed Unsatisfactory, Establishing Prima Facie Evidence Against Them.

August 28, 2014

Case Laws     Income Tax     AT

Additions u/s 68 - As the explanation offered by the assessee about the nature and source of the sums found credited in the books was not satisfactory there was, prima facie, evidence against the assessee, viz., the receipt of money. - AT

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