Addition u/s 69C on account of unexplained expenditure - benefit ...

Section 69C: Telescoping Benefit Allowed for Assessee's Bogus Purchases, Not for Group's Gold Coin Acquisitions.

February 14, 2022

Case Laws Income Tax AT

Addition u/s 69C on account of unexplained expenditure - benefit of telescoping - The assessee can get the telescoping benefit for addition on account of bogus purchases in his case only and cannot get the telescoping benefit on account of the cash generated out of such bogus purchases in other group concerns for meeting the expenditure towards acquisition of gold coins - AT

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Addition u/s 69C on account of unexplained expenditure - benefit ...

Section 69C: Telescoping Benefit Allowed for Assessee's Bogus Purchases, Not for Group's Gold Coin Acquisitions.

February 14, 2022

Case Laws Income Tax AT

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