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Income Tax - Highlights / Catch Notes

Home Highlights May 2022 Year 2022 This

Addition u/s 68 - accommodation entry receipts - Had there been ...

Income Tax

May 6, 2022

Addition u/s 68 - accommodation entry receipts - Had there been any doubt by the Revenue on the repayment of the loan as claimed by the assessee, it was the duty of the revenue to carry out the necessary verification. It is for the reason that the assessee has discharged its onus by furnishing the necessary details in support of the repayment of the loan. - AT

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