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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Unexplained advance - Assessee has to prove its claim that it ...


Assessee Must Present Beneficiaries to Verify Claim of Rotating Money for Accommodation Entries Under Scrutiny.

January 24, 2020

Case Laws     Income Tax     AT

Unexplained advance - Assessee has to prove its claim that it has rotated money of the beneficiaries and provided accommodation entries to the beneficiaries against certain commission only. The assessee should produce those beneficiaries before the Assessing Officer in support of its claim of having engaged only in providing accommodation entries to the beneficiaries.

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