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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Addition u/s 68 - addition has been sustained on the basis that ...

Income Tax

April 24, 2015

Addition u/s 68 - addition has been sustained on the basis that the assessee could not discharge its onus with regard to the creditworthiness of the creditors - However, de hors the said provision, it is not possible to state with certainty that the said sums would be “concealed income” - No Penalty - AT

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