Addition u/s 68 - creditworthiness of the creditors and ...

Section 68: Creditworthiness of Creditors Upheld; Low Income Declaration Not Enough to Reject Assessee Explanation.

October 10, 2020

Case Laws Income Tax AT

Addition u/s 68 - creditworthiness of the creditors and genuineness of the transaction - Merely low income declared in the return of income by the creditors is no ground to reject the explanation of the assessee-company because their creditworthiness is in several crores as is already admitted by the A.O. in the assessment order. - AT

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Addition u/s 68 - creditworthiness of the creditors and ...

Section 68: Creditworthiness of Creditors Upheld; Low Income Declaration Not Enough to Reject Assessee Explanation.

October 10, 2020

Case Laws Income Tax AT

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