Addition u/s 68 - cash advance received from the customers - it ...

Seller Not Required to Verify Buyer Creditworthiness u/s 68; Assessing Officer Must Investigate Cash Deposits.

August 14, 2019

Case Laws Income Tax AT

Addition u/s 68 - cash advance received from the customers - it cannot be expected from a seller to examine the creditworthiness of the buyers prior to selling any goods to any persons - the assessee cannot be blamed as the AO possesses all the details of customers and equipped with the full powers under the Act to call respective persons to examine the source of cash deposit by them to the assessee - no addition

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Addition u/s 68 - cash advance received from the customers - it ...

Seller Not Required to Verify Buyer Creditworthiness u/s 68; Assessing Officer Must Investigate Cash Deposits.

August 14, 2019

Case Laws Income Tax AT

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