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Income Tax - Highlights / Catch Notes

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Addition u/s 68 - Section 68 is clear enough as it uses the term ...


High Court Upholds Additions u/s 68: Unexplained Sums Credited in Accounts Must Be Properly Explained, Cash or Cheque.

May 24, 2017

Case Laws     Income Tax     HC

Addition u/s 68 - Section 68 is clear enough as it uses the term "sum is found credited in the books of accounts of the assessee". It does not make any distinction between any cash or cheque transaction. - Despite non-encashment of the cheques by the assessee, additions confirmed - HC

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