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Income Tax - Highlights / Catch Notes

Home Highlights December 2019 Year 2019 This

Bogus sale - allegation of unaccounted sale to the petrol pump ...

Income Tax

December 31, 2019

Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department except the ad hoc addition by the sales tax department for the assessment year 2000-01. Indeed, such ad hoc addition represents the enhanced value of sale price, but it was never compared with the price of the patrol. - Additions deleted in the absence of sufficient documentary evidence.

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