Addition u/s 69 - deposit made into the partnership firm by ...

Section 69: Partner Deposits Not Firm Income; Unexplained Sources Affect Partners' Income Only.

May 8, 2020

Case Laws Income Tax AT

Addition u/s 69 - deposit made into the partnership firm by partners - Capital contribution by the partners cannot be treated as income of the assessee and if the partners are not able to explain the sources for their investment, the AO can only make the addition in the hands of the partners and not in the hands of the assessee firm.

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Addition u/s 69 - deposit made into the partnership firm by ...

Section 69: Partner Deposits Not Firm Income; Unexplained Sources Affect Partners' Income Only.

May 8, 2020

Case Laws Income Tax AT

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