Additions u/s 69C - unexplained expenditure - the provisions of ...

Income Tax

February 26, 2021

Additions u/s 69C - unexplained expenditure - the provisions of section 69C of the Act, will apply but consequent loss is to be set-off against this income. As regards to applicability of section 115BBE of the Act, as clarified by the CBDT as provisions brought out by the Finance Act, 2016 in the statute book w.e.f. 01.04.2017, the same is prospective and not retrospective. - AT

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Additions u/s 69C - unexplained expenditure - the provisions of ...

Income Tax

February 26, 2021

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