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Income Tax - Highlights / Catch Notes

Home Highlights April 2023 Year 2023 This

Addition u/s 68 - unexplained cash credit - no proof/evidence of ...

Income Tax

April 6, 2023

Addition u/s 68 - unexplained cash credit - no proof/evidence of sale of crops - the AO has disbelieved the statement of the assessee and the nature of trend in the agriculture sector wherein proper sale records could not be maintained by the small time agriculturist. For all these reasons, the addition made by the A.O. u/s. 68 is not sustainable in law - AT

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