Addition - Unexplained investment - Where an assessee is found ...

Assessee Must Explain Unrecorded Stocks; Unsatisfactory Explanation May Lead to Taxable Income Assessment.

November 28, 2011

Case Laws Income Tax HC

Addition - Unexplained investment - Where an assessee is found to be in possession of stocks which were not entered in the account books, the assessee has to explain the nature and source of the stocks and if that is not satisfactorily explained, the value of the stocks can always be treated as assessee's income .... - HC

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Addition - Unexplained investment - Where an assessee is found ...

Assessee Must Explain Unrecorded Stocks; Unsatisfactory Explanation May Lead to Taxable Income Assessment.

November 28, 2011

Case Laws Income Tax HC

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