Addition u/s 68/69A - unexplained deposits in the Bank account - ...

Unexplained Bank Deposits Lead to Sections 68 & 69A Additions, Contradicting Simplified Presumptive Taxation u/s 44AD.

November 28, 2019

Case Laws Income Tax AT

Addition u/s 68/69A - unexplained deposits in the Bank account - assessee offered income u/s. 44AD - Asking the assessee to prove to the satisfaction of the AO, the expenditure to the extent of 92% of gross receipts, would also defeat the purpose of presumptive taxation as provided under section 44AD or other such provision.

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Addition u/s 68/69A - unexplained deposits in the Bank account - ...

Unexplained Bank Deposits Lead to Sections 68 & 69A Additions, Contradicting Simplified Presumptive Taxation u/s 44AD.

November 28, 2019

Case Laws Income Tax AT

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