Addition based on loose sheets found during the search - on ...

Court Affirms Deletion of Additions; No Evidence for On-Money Payments Justifies Telescopic Benefit u/s 132 and 69A.

June 8, 2021

Case Laws Income Tax AT

Addition based on loose sheets found during the search - on money payment - Addition u/s. 69A r.w.s.115BBE - -Since, search u/s. 132 was conducted in the residence and the business premises and no evidence was found evidencing application of additional income admitted by the assessee, either in the hands of the company or in the hands of the directors, we do not find any reason to reject the telescopic benefit requested by the assessee. - CIT(A) rightly deleted the additions - AT

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Addition based on loose sheets found during the search - on ...

Court Affirms Deletion of Additions; No Evidence for On-Money Payments Justifies Telescopic Benefit u/s 132 and 69A.

June 8, 2021

Case Laws Income Tax AT

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