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Income Tax - Highlights / Catch Notes

Home Highlights July 2015 Year 2015 This

Unapproved sundry creditors - credit purchases are nothing but ...


Assessing Officer Can Use Section 69C to Add Unapproved, Unsubstantiated Sundry Credit Purchases as Expenditures.

July 1, 2015

Case Laws     Income Tax     HC

Unapproved sundry creditors - credit purchases are nothing but expenditure and if sundry credits are not proved by the assessee addition can be made by the assessing officer by resorting to section 69C - HC

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