Unaccounted investment u/s. 69C - The ITAT observed that the ...

ITAT Upholds CIT(A) Decision: Unaccounted Investment Deleted as Amount Taxed as Gross Profits u/s 69C.

February 13, 2024

Case Laws Income Tax AT

Unaccounted investment u/s. 69C - The ITAT observed that the confusion arose because the assessee had treated the total booking amount (creditors) as closing work in progress, which the AO considered as unexplained investment. - The ITAT upheld the CIT(A)'s decision in deleting the addition, stating that the amount had already been offered for tax as gross profits.

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Unaccounted investment u/s. 69C - The ITAT observed that the ...

ITAT Upholds CIT(A) Decision: Unaccounted Investment Deleted as Amount Taxed as Gross Profits u/s 69C.

February 13, 2024

Case Laws Income Tax AT

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