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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Additions made u/s. 68 - main reason for making the addition was ...


ITAT Deletes Additions u/s 68 Due to Doubts Over Transaction Genuineness Involving Shareholder Cash Transfers.

January 4, 2017

Case Laws     Income Tax     AT

Additions made u/s. 68 - main reason for making the addition was that the shareholders have deposited cash in some other bank account which have come to the depositors with banking channel, and then transferred to assessee thus the genuineness of the transactions was doubted - ITAT deleted the additions

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