Additions u/s.68 - Failure on the part of the buyers of the ...

Section 68 Additions Invalid: Buyers' Failure to Prove Income Source Insufficient Without Examination and Admission of Advance.

January 20, 2016

Case Laws     Income Tax     AT

Additions u/s.68 - Failure on the part of the buyers of the flat to establish their source of income cannot be made as the reason to make addition in the hands of the assessee without out examining them when they themselves had admitted for having advanced the amount to the assessee - AT

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