Addition on protective basis u/s 69A - genuineness and ownership ...

Section 69A Additions on Gold Ownership Deleted Due to Credible Evidence of Sale and Payment Records.

January 13, 2023

Case Laws Income Tax AT

Addition on protective basis u/s 69A - genuineness and ownership of fine gold - The seller confirmed to have made sale to the assessee vide tax invoice dated 26 October 2017 and received payment against such sale. Therefore, merely for the reason that the seller behind the back of the assessee stated that he physically handed over the gold to the assessee instead of making courier, the documentary evidences in the form of tax invoice, proof of payment, and recording of transactions in books of account cannot be brushed aside. - Additions deleted - AT

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Addition on protective basis u/s 69A - genuineness and ownership ...

Section 69A Additions on Gold Ownership Deleted Due to Credible Evidence of Sale and Payment Records.

January 13, 2023

Case Laws Income Tax AT

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