Unexplained cash credit under section 68 - Creditworthiness of ...

Authorities Can't Doubt MD's Creditworthiness u/s 68 Without Financial Statement; Income Declared in Crores, No Defects Found.

March 19, 2020

Case Laws Income Tax AT

Unexplained cash credit under section 68 - Creditworthiness of MD cannot be doubted merely on the ground that the assessee failed to furnish the financial statement. As such, MD has declared the income in its income tax return as evident from the preceding paragraph which is running into crores of rupees and there was no defect of whatsoever was pointed out by the authorities below - AT

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Unexplained cash credit under section 68 - Creditworthiness of ...

Authorities Can't Doubt MD's Creditworthiness u/s 68 Without Financial Statement; Income Declared in Crores, No Defects Found.

March 19, 2020

Case Laws Income Tax AT

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