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Income Tax - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Addition towards unrecorded turnover - transaction of buy / sale ...


Assessee's Unrecorded Paddy Basmati Transactions via National Spot Exchange Ltd Result in Confirmed Additions by Authorities.

August 26, 2023

Case Laws     Income Tax     AT

Addition towards unrecorded turnover - transaction of buy / sale in Paddy Basmati through National Spot Exhange Ltd. (NSEL) - The assessee kept raising a claim before the AO as well as the DRP that these transactions were recorded in the subsequent year. However, the assessee failed to substantiate his contention. - Additions confirmed - AT

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