Supreme Court Dismisses Assessee's Appeal in Income Tax Cash Credit Case — Upholds Addition Under Section 68 Despite Rejection of Books for Gross Profit. Books of Account Can Be Partially Relied Upon for Different Additions Even After Rejection Under Section 145(3) of Income Tax Act, 1961.
24 Apr 2020The appeal arose from a challenge to an addition of Rs.2,26,000 made under Section 68 of the Income Tax Act, 1961, as unexplained cash credits. The ap...
