Unexplained money u/s. 69A - “deemed income” - since the amount ...

Case Laws     Income Tax

April 24, 2023

Unexplained money u/s. 69A - “deemed income” - since the amount was not recorded in the books, it did not form the part of the Revenue Receipts of the Assessee. The amount was enjoyed by the Assessee on receipt basis and never recorded in the regular books of accounts, therefore, the amount has to be taxed on receipt basis and not on the basis of POC method.- AT

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