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Income Tax - Highlights / Catch Notes

Home Highlights February 2021 Year 2021 This

Addition u/s 68 - Cash credit surrendered - Income erroneously ...


Tax Case: Section 68 Cash Credit Misreported in AY 2013-14 Cannot Be Assessed Just for Voluntary Declaration.

February 5, 2021

Case Laws     Income Tax     AT

Addition u/s 68 - Cash credit surrendered - Income erroneously offered by the assessee in current AY - The above said credits/ amount were not received during the financial year relevant to AY 2013-14. - the income erroneously offered by the assessee in AY 2013-14 cannot be assessed in that year, merely for the reason that the assessee has offered the same voluntarily. - AT

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