Addition u/s 69A - addition of processing charges bill alleged ...

Income Tax Case: Opportunity Needed to Explain Unrecorded Processing Charges u/s 69A; Possible Income Addition if Unexplained.

July 20, 2020

Case Laws Income Tax AT

Addition u/s 69A - addition of processing charges bill alleged to be paid outside the books of accounts - Assessee should have been allowed to reconcile and explain the differential amount of all the bills and processing charges paid to the assessee in cash - If the assessee fails to explain and reconcile the differential amount, the revenue authorities were well empowered to make addition in the hands of the assessee u/s.69A

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Addition u/s 69A - addition of processing charges bill alleged ...

Income Tax Case: Opportunity Needed to Explain Unrecorded Processing Charges u/s 69A; Possible Income Addition if Unexplained.

July 20, 2020

Case Laws Income Tax AT

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