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Income Tax - Highlights / Catch Notes

Home Highlights August 2018 Year 2018 This

Determination of additional income - notional sales - ...


Appellate Tribunal's Approval of Additional Stock Quantum Based on FCI Certificate Overturned; Case Involves Notional Sales, Unaccounted Purchases.

August 28, 2018

Case Laws     Income Tax     HC

Determination of additional income - notional sales - unaccounted purchases and stock - To the extent that the Appellate Tribunal accepted the quantum of additional stocks on the basis of the certificate issued by the concerned FCI official, such order is unacceptable and is set aside.

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