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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Unexplained credits – difference in bank balance as per books of ...


Discrepancies Between Book Balances and Bank Statements Not Treated as Unexplained Credits u/s 68 of Income Tax Act.

February 7, 2012

Case Laws     Income Tax     AT

Unexplained credits – difference in bank balance as per books of accounts vs bank balance as per bank statement treated as unexplained credit – there is no basis whatsoever for making any addition under these circumstances u/s.68 of the Act.... - AT

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