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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - the deposit in HSBC London - the assessee has ...


Section 68: Assessee's HSBC London Deposits Lacked Credible Source Evidence, Rejected by Authorities.

January 11, 2023

Case Laws     Income Tax     AT

Addition u/s 68 - the deposit in HSBC London - the assessee has not been able to provide any cogent evidence for the source of deposits. The submissions of the assessee have been without any reliable material. The explanation given by the assessee is only self-serving and has correctly been rejected by the lower authorities. - AT

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