Cash Credit - Addition u/s 68 - It is impossible to accept that ...

Court Rejects Transaction as Genuine u/s 68 Due to Creditors' Low Income and Implausible Cash Advances.

October 1, 2013

Case Laws Income Tax HC

Cash Credit - Addition u/s 68 - It is impossible to accept that this transaction is genuine when the income tax returns show a meager amount of Rs.1.00 lakh and odd and how the creditors could advance huge sums of Rs. 5.00 lakhs each - HC

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Cash Credit - Addition u/s 68 - It is impossible to accept that ...

Court Rejects Transaction as Genuine u/s 68 Due to Creditors' Low Income and Implausible Cash Advances.

October 1, 2013

Case Laws Income Tax HC

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