Unexplained u/s.68 - un-explained cash credit addition - Huge ...

Unexplained cash credits u/s 68 lead to income tax additions due to unsupported expenses and lack of TDS.

August 31, 2021

Case Laws Income Tax AT

Unexplained u/s.68 - un-explained cash credit addition - Huge amount withdrawn from bank - self made vouchers for expenses - AO observed that expenses were not supported by bills/vouchers and no TDS was made on such amounts - loose sheets found during survey proceedings - It appears that assessee’s failure in filing its cogent explanation only led the Assessing Officer to add the impugned sums in all these assessment years. - Additions confirmed - AT

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Unexplained u/s.68 - un-explained cash credit addition - Huge ...

Unexplained cash credits u/s 68 lead to income tax additions due to unsupported expenses and lack of TDS.

August 31, 2021

Case Laws Income Tax AT

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