Addition u/s. 68 - apart from identity other ingredients like ...

Income Tax Case Remanded: CIT(A) to Reassess Transaction Validity u/ss 68 and 131 After Procedural Oversight.

August 6, 2021

Case Laws Income Tax AT

Addition u/s. 68 - apart from identity other ingredients like creditworthiness and genuineness of transaction required to be proved in support of claim u/s. 68 - CIT(A) observed that the AO failed to examine the said lenders u/s. 131 of the Act but however in our opinion the CIT(A) also failed to exercise said jurisdiction by remanding the matter to the file of AO - we deem it proper to remand the issue to the file of CIT(A) for its fresh adjudication. - AT

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Addition u/s. 68 - apart from identity other ingredients like ...

Income Tax Case Remanded: CIT(A) to Reassess Transaction Validity u/ss 68 and 131 After Procedural Oversight.

August 6, 2021

Case Laws Income Tax AT

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