Addition u/s 68 - assessee is not required to maintain proper ...

Presumptive Taxation u/s 44AD: No Need for Books, Unexplained Cash Credits Rule 68 Not Applicable.

April 5, 2023

Case Laws Income Tax AT

Addition u/s 68 - assessee is not required to maintain proper books of accounts since he has opted for presumptive taxation u/s 44AD - Since the assessee is admittedly not required to maintain the books of account, therefore, there is no basis for invoking the provision of section 68 - we delete the addition made for unexplained sundry creditors - AT

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Addition u/s 68 - assessee is not required to maintain proper ...

Presumptive Taxation u/s 44AD: No Need for Books, Unexplained Cash Credits Rule 68 Not Applicable.

April 5, 2023

Case Laws Income Tax AT

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