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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Addition u/s 68 - outstanding sundry creditors - the said sundry ...


Section 68 Addition Deleted: Payments to Sundry Creditors Made via Banking Channels, Regular Transactions Not Questioned by Revenue.

January 25, 2020

Case Laws     Income Tax     AT

Addition u/s 68 - outstanding sundry creditors - the said sundry creditors were paid in the subsequent year through banking channels and that the assessee has had regular transactions with the same parties in the subsequent years which were not doubted by the Revenue - Addition deleted.

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