Assessment u/s 153A - Unexplained investment - It is common ...

Court Rules Section 69 Inapplicable as Investment Properly Recorded in Books During Section 153A Search Proceedings.

December 2, 2020

Case Laws Income Tax AT

Assessment u/s 153A - Unexplained investment - It is common practice during search proceedings that the revenue seizes the books of account along with incriminating documents and even if the books of account are not seized, copies of the same are taken. In either situation, it would be impossible for the assessee to fabricate/fudge /doctor the entries in the books of account. Since the investment has been found duly recorded in the regular books of account, provisions of section 69 of the Act do not apply - AT

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Assessment u/s 153A - Unexplained investment - It is common ...

Court Rules Section 69 Inapplicable as Investment Properly Recorded in Books During Section 153A Search Proceedings.

December 2, 2020

Case Laws Income Tax AT

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