Friday, May 23, 2014

[aaykarbhavan] Receipts from foreign cos. credited to accounts of NR individuals showed bogus dealings; sec. 68 addition upheld



Receipts from foreign cos. credited to accounts of NR individuals showed bogus dealings; sec. 68 addition upheld

May 23, 2014[2014] 45 taxmann.com 119 (Delhi)
IT: Where remittance were received from two Thai companies, but credit entries were made in name of two NRI Individuals and immediate foreign remitter's explanation was absent, initial burden showing genuineness of transaction was not discharged
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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