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Income Tax - Highlights / Catch Notes

Home Highlights January 2019 Year 2019 This

Undisclosed investments - Additions based on balance-sheet ...


Undisclosed Income Added Due to Unexplained Investments Found in Bank Loan Balance Sheet; AO's Action Deemed Lawful.

January 18, 2019

Case Laws     Income Tax     HC

Undisclosed investments - Additions based on balance-sheet submitted to the Bank for obtaining loan - there is absolutely no error in law on the AO relying on the same and adding on an undisclosed income on the basis of the unexplained investment in the unaccounted purchases.

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