Monday 11 May 2015

Sec. 68 additions upheld on failure of assessee to prove source of cash receipts credited in books

IT : Where two cash receipts were found credited in books of account of assessee on account of repayment of his dues and sale of shares but he could not satisfy Assessing Officer by adducing proper evidence regarding source of said money, said amounts were rightly added to assessee's income under section 68

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