The ITAT Delhi sets aside a Rs.1.03 Cr addition to a trader's income, ruling that the creditor balance cannot be taxed under Section 68 when the AO accepts the substantial volume of sales and ...
The tribunal held that Section 68 applies only to unexplained cash inflows. Since credits arose through journal entries without cash movement, the addition was ...
Many taxpayers believe that income tax returns (ITR) can only be filed by the due date. However, this is not entirely correct ...
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