Thursday 24 December 2015

An assessee can't be compelled to disclose the source of income of its creditors under sec. 68

IT : In terms of section 68, assessee is liable to disclose only source(s) from where he has himself received credit and it is not burden of assessee to show source(s) of his creditor nor is it burden of assessee to prove creditworthiness of source(s) of said sub-creditors

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