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Income Tax - Highlights / Catch Notes

Home Highlights January 2020 Year 2020 This

Addition u/s 68 - unproved trade / sundry creditors - There is ...

Income Tax

January 17, 2020

Addition u/s 68 - unproved trade / sundry creditors - There is no justification for making the addition of advances received from the customers without taking into consideration the respective sales. Having accepted the sales account, there is no case for making the addition of the same amount representing advances from the customers.

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