Unexplained cash credits - addition u/s 68 - The extra-ordinary ...

Income Tax

September 22, 2016

Unexplained cash credits - addition u/s 68 - The extra-ordinary circumstance forming primary reason of cash payment is that there were some DRT proceedings wherein the assessee was in urgent need of money - no additions - AT

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Unexplained cash credits - addition u/s 68 - The extra-ordinary ...

Income Tax

September 22, 2016

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Amount which was credited in books of accounts of the assessee in the preceding year cannot be treated as unexplained cash credit u/s 68 in the relevant assessment year.

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