Addition u/s 68 - The CIT(A) has observed that the transactions ...

Case Laws Income Tax

April 6, 2022

Addition u/s 68 - The CIT(A) has observed that the transactions was part of the turnover/sale, whereas the addition has been made under Section 68 of the Act without reducing the corresponding sales. Such an act of the Assessing Officer tantamount to double addition; one under the head 'turnover' and other under Section 68 of the Act. Such course of action is manifestly unsustainable and cannot be countenanced in law - CIT(A) rightly deleted the additions - AT

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Addition u/s 68 - The CIT(A) has observed that the transactions ...

Case Laws Income Tax

April 6, 2022

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