Additions towards addmission of Unaccounted receipts - to be ...

Case Laws Income Tax

January 10, 2022

Additions towards addmission of Unaccounted receipts - to be assessed to tax on gross basis, or as held by the ld.CIT(A), only the profit element embedded in the total receipts is required to be taxed. - AO has specifically asked the assessee to give details of expenditure which were not incorporated in the books. He asked for flat-wise details of work done along with relevant measurement sheets/bills. - No such things were submitted by the assessee. To be more specific, there should be corresponding details of unaccounted expenditure. - CIT(A) wrongly deleted the additions - Order of AO sustained - AT

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Additions towards addmission of Unaccounted receipts - to be ...

Case Laws Income Tax

January 10, 2022

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