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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Loan agreement was found during the course of search in the case ...

Income Tax

January 16, 2020

Loan agreement was found during the course of search in the case of another person, which is handed-over to the A.O. of the assessee and addition is made only on that basis. Therefore, there was no justification for the A.O. to have been initiated proceedings u/s 147/148 - The correct course of action would have been to proceed against the assessee u/s 153C.

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