TMI BlogUndisclosed income as assessable u/s 158 BC - Assessee submitted the amount was not received and waived...Undisclosed income as assessable u/s 158 BC - Assessee submitted the amount was not received and waived as bad debts, accordingly should be excluded - Tribunal, on examination of the ledger account pertaining to G.V. Films, which was seized during the search, has concluded that the amount of ₹ 35,00,000/- were received by the assessee on various dates between 23.08.1995 and 11.01.1996 and the same were duly accounted. In view of the same, the Tribunal has come to a definite conclusion that..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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