Addition u/s 68 - Proof of receipt of Cash Component against ...

Section 68 Addition Overturned: Lack of Evidence on Cash Receipt Timing in Property Sale or Loan Agreement.

September 14, 2023

Case Laws Income Tax AT

Addition u/s 68 - Proof of receipt of Cash Component against sale of property / loan agreement - AO does not determine in which year such cash was paid and if so, whether the entire receipt becomes income in that particular year etc. Addition was made not on any concrete finding basing on any corroborative evidence. We find it difficult to sustain the same - AT

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Addition u/s 68 - Proof of receipt of Cash Component against ...

Section 68 Addition Overturned: Lack of Evidence on Cash Receipt Timing in Property Sale or Loan Agreement.

September 14, 2023

Case Laws Income Tax AT

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