Unexplained investment - Tax value of certain assets received by ...

Assets Received Free: Taxed u/s 28(iv), Not Section 69; Eligible for Deduction u/s 10A.

June 25, 2020

Case Laws Income Tax AT

Unexplained investment - Tax value of certain assets received by it free of cost under Section 28(iv) - Therefore, the addition u/s. 69 of the Act cannot be sustained. - The entire value of assets has to be regarded as an addition made u/s. 28(1)(iv) of the Act, as was done by the AO - However the same would be eligible for deduction u/s 10A

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Unexplained investment - Tax value of certain assets received by ...

Assets Received Free: Taxed u/s 28(iv), Not Section 69; Eligible for Deduction u/s 10A.

June 25, 2020

Case Laws Income Tax AT

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