TMI BlogTreatment of sales as income from unexplained source - Allegation that Assessee had created a false...Treatment of sales as income from unexplained source - Allegation that Assessee had created a false business with the objective of laundering its unaccounted income is based on the enquiries conducted by the AO under Section 133B - Rule of consistency is a well-established and recognised principle applicable to the Income-Tax proceedings. Pertinently, the Respondent-Assessee had closed his business in July, 2015 after selling all the stocks and the survey carried out at a later stage would not h..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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