[aaykarbhavan] Fake work completion certificate for pre-qualifying in bid won't invite sec. 69B additions on contractor

Fake work completion certificate for pre-qualifying in bid won't invite sec. 69B additions on contractor

April 18, 2014[2014] 43 taxmann.com 394 (Kerala)

IT : Where a bogus work completion certificate was obtained by assessee contractor just for qualifying a bid and actually assessee did no work, no addition could be made as undisclosed income on basis of such certificate

IT : Where documents produced and explanation submitted regarding source of income were valid, addition under section 69B could not be made

IT : Where no adverse evidence was found and/or no statement of parties had been obtained, no addition could not be made as unaccounted receipt only on basis of a draft agreement

 

Regards

Prarthana Jalan

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