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Income Tax - Highlights / Catch Notes

Home Highlights February 2020 Year 2020 This

Addition u/s 69 - amount received as advance / earnest money for ...

Income Tax

February 26, 2020

Addition u/s 69 - amount received as advance / earnest money for sale of land which was deposited in the bank - The documents appeared to have been prepared by the assessee for self-serving purposes. Since the aforesaid cancellation deed does not bear signatures of the any of the purchasers, hence, no reliance can be placed on it. - additions confirmed. - AT

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