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Income Tax - Highlights / Catch Notes

Home Highlights January 2023 Year 2023 This

Unaccounted purchases - unaccounted income of the assessee - it ...

January 10, 2023

Case Laws     Income Tax     AT

Unaccounted purchases - unaccounted income of the assessee - it is difficult to accept the arguments of the assessee that income earned out of unaccounted sales is plugged back into the business and which is source for unaccounted purchases, because, unaccounted purchases noticed by the Department is more than the amount of additional income offered by the assessee. - AT

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