Unexplained Credit u/s 68 - Statement of a witness who has no ...

Unexplained Credits u/s 68: Witness Deemed Unreliable, Insufficient Inquiry by Assessing Officer Weakens Case.

December 6, 2022

Case Laws Income Tax AT

Unexplained Credit u/s 68 - Statement of a witness who has no knowledge of relevant facts towards receipt of cash from assessee is not entitled to any weight and is not pertinent in so far as assessee is concerned. Inexplicably, while implicating a third party with grave charges, no enquiry has been made by AO from key persons to elicit any credible information, despite specific request & suggestion from the assessee - AT

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Unexplained Credit u/s 68 - Statement of a witness who has no ...

Unexplained Credits u/s 68: Witness Deemed Unreliable, Insufficient Inquiry by Assessing Officer Weakens Case.

December 6, 2022

Case Laws Income Tax AT

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