Addition u/s 56(2)(vii)(a) - When the revenue has accepted the ...

Income Tax Act Section 56(2)(vii)(a): Revenue can't label a loan as a gift between parties to avoid tax inconsistency.

July 5, 2018

Case Laws Income Tax AT

Addition u/s 56(2)(vii)(a) - When the revenue has accepted the amount as loan in the hands of other party, the Revenue cannot take up a contrary stand and treat the same loan in the hands of the assessee as a gift or a sum received without consideration taxable u/s56(2)(vii)(a)

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Addition u/s 56(2)(vii)(a) - When the revenue has accepted the ...

Income Tax Act Section 56(2)(vii)(a): Revenue can't label a loan as a gift between parties to avoid tax inconsistency.

July 5, 2018

Case Laws Income Tax AT

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