Addition u/s 28(iv) - huge increase in the capital - revaluation ...
Income Tax
December 29, 2016
Addition u/s 28(iv) - huge increase in the capital - revaluation of the jewellery - This is merely a book entry passed by the assessee - the auditor who has admitted to have made mistakes in describing the gold pledged as capital of the assessee, whereas, in the eyes of law it is a contingent liability and since the error has been corrected, no additions - AT
View Source
