Unexplained cash credit u/s 68 - AO made addition of loan based ...

Income Addition Rejected: AO Cannot Rely Solely on Retracted Loan Statement Without Witness Cross-Examination Opportunity for Assessee.

August 27, 2019

Case Laws Income Tax AT

Unexplained cash credit u/s 68 - AO made addition of loan based on statement of a person who retract subsequently - it is the revenue which had placed reliance on the statement hence it is the duty of the revenue to produce the party as their witness in order to enable the assessee to cross examine the said party, if it so desires and this responsibility cannot be shifted to the assessee by the AO - no addition based on that statement

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Unexplained cash credit u/s 68 - AO made addition of loan based ...

Income Addition Rejected: AO Cannot Rely Solely on Retracted Loan Statement Without Witness Cross-Examination Opportunity for Assessee.

August 27, 2019

Case Laws Income Tax AT

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