Unexplained credit - Since surrender have been made in earlier ...

Taxed Surrendered Credits from Previous Years Not Taxable in Current Year, Justifies Deletion for Assessee.

May 15, 2020

Case Laws Income Tax AT

Unexplained credit - Since surrender have been made in earlier year as well as in subsequent year of the amounts in question and taxes have been paid and the amount which was surrendered in earlier year have been realized in assessment year under appeal, therefore, same would not be taxable in assessment year under appeal. This reason alone is sufficient to delete the addition against the assessee

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Unexplained credit - Since surrender have been made in earlier ...

Taxed Surrendered Credits from Previous Years Not Taxable in Current Year, Justifies Deletion for Assessee.

May 15, 2020

Case Laws Income Tax AT

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