Addition of unverifiable purchase - The onus is on the assessee ...

Taxpayer Must Prove Timing, Method of Gray Market Cash Payments and Show Cash Availability in Financial Records.

June 27, 2018

Case Laws Income Tax AT

Addition of unverifiable purchase - The onus is on the assessee to explain when & how the cash has been paid for purchase from gray market and it is for the assessee to explain availability of cash in books of account.

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Addition of unverifiable purchase - The onus is on the assessee ...

Taxpayer Must Prove Timing, Method of Gray Market Cash Payments and Show Cash Availability in Financial Records.

June 27, 2018

Case Laws Income Tax AT

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