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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - proof of genuineness of transactions - The AO ...


AO Neglects Duty: Fails to Verify Transactions u/s 68, Relies Only on Investigation Wing Report.

March 31, 2017

Case Laws     Income Tax     HC

Addition u/s 68 - proof of genuineness of transactions - The AO strangely failed to conduct any scrutiny of documents and rested content by placing reliance merely on a report of the Investigation Wing. This reveals spectacular disregard to an AO’s duties - HC

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