Sunday 26 April 2015

Additions upheld for sums credited in bank as assessee failed to show that it was due to under-invoi

IT : Where in course of search certain amount was found deposited in bank account of assessee-HUF, in absence of any evidence on record showing co-relation between under invoking of goods sold and amount so credited, authorities below rightly added said amount to assessee's taxable income under section 69

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