Addition u/s 69C - unexplained expenditure - Since the assessee ...

Section 69C Addition Fails: AO's Inadequate Inquiry into Unexplained Expenditure on Stamp Purchase via RTGS.

September 21, 2021

Case Laws Income Tax AT

Addition u/s 69C - unexplained expenditure - Since the assessee purchased the stamp and made the payment through RTGS then there is no question of considering the same has unexplained investment - AO issued the summon u/s 131 of The Act to the stamp vendor and by issuing the summon, the stamp vendor becomes the witness of the Revenue and thus, it was the duty of the Assessing Officer to collect the information from the stamp vendor and confront to the assessee but the AO failed to gather the information. - No additions - AT

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Addition u/s 69C - unexplained expenditure - Since the assessee ...

Section 69C Addition Fails: AO's Inadequate Inquiry into Unexplained Expenditure on Stamp Purchase via RTGS.

September 21, 2021

Case Laws Income Tax AT

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