Addition on account of suppression of sale - The entire amount ...
Income Tax
March 15, 2021
Addition on account of suppression of sale - The entire amount of suppressed sale cannot be treated as income of the assessee. It is because there was no evidence available with the AO that the assessee has made any investment in such suppressed sale. In the absence of documentary evidence, we are of the view that the amount of gross profit will only be subject matter of addition with respect to such unaccounted transaction - AT
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