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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Addition u/s 69C - writing off the goodwill has not resulted in ...


Section 69C Misapplied: Writing Off Goodwill Didn't Siphon Funds; Only Applies to Unexplained Investment Sources.

May 9, 2016

Case Laws     Income Tax     AT

Addition u/s 69C - writing off the goodwill has not resulted in the siphoning of funds of the company - Further addition made u/s 69C is also not correct as section 69C can only be invoked only when the source of any investment was not explained - AT

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