Tuesday, 6 October 2015

Sec. 69C additions made for household exp. of one lakh on failure of assessee to explain withdrawal

IT: Where assessee had deposited a sum of Rs. 6 lakhs in cash in a firm and submitted that said amount represented brought forward cash from earlier years lying with him at house for last 10 months and Assessing Officer relying on wrong facts added said amount in income of assessee, impugned addition was not justified

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