Assessment u/s 153A - Protective assessment while making ...

Section 153A Assessment: Revenue's Unjustified Interest Income Addition Lacks Evidence, Relies on Assumptions Without Proof.

June 24, 2021

Case Laws Income Tax AT

Assessment u/s 153A - Protective assessment while making additions in the hands of son/grandson - interest income arising out of funds - By no stretch of imagination the addition made by Revenue on the interests income on substantive basis in the hands of the assessee holding assessee as the owner of the funds of the account only on relying upon the instructions to transfer the fund solely on the basis of surmise and conjecture cannot be said to be justified in the absence of corroborative evidence - AT

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Assessment u/s 153A - Protective assessment while making ...

Section 153A Assessment: Revenue's Unjustified Interest Income Addition Lacks Evidence, Relies on Assumptions Without Proof.

June 24, 2021

Case Laws Income Tax AT

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