Unexplained expenditure u/s 69C - Addition relating to cash ...

Unexplained Expenditure u/s 69C Deleted Due to Lack of Evidence in Angadia Cash Transfer Case.

July 11, 2023

Case Laws Income Tax AT

Unexplained expenditure u/s 69C - Addition relating to cash transferred through Angadias - Reliability of WhatsApp chat between employees and son-in-law of CMD - it could be a private and independent transaction, unconnected with the assessee company. Accordingly, AO could not have made this addition without bringing any material on record to show that the assessee company’s funds have been used for execution of this transaction and further the transaction has actually been executed. - Additions deleted - AT

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Unexplained expenditure u/s 69C - Addition relating to cash ...

Unexplained Expenditure u/s 69C Deleted Due to Lack of Evidence in Angadia Cash Transfer Case.

July 11, 2023

Case Laws Income Tax AT

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