[aaykarbhavan] Sec. 69A additions upheld as sums unearthed during search weren’t proved as initial capital of ancestors of assessee

Sec. 69A additions upheld as sums unearthed during search weren't proved as initial capital of ancestors of assessee

June 28, 2014[2014] 45 taxmann.com 446 (Madhya Pradesh)

IT : Where assessee had claimed part of a sum unearthed in search as 'initial working capital' by ancestors but could not substantiate said claim, addition to be made; addition to be made also on account of interest on account of re-pawning

IT : Assessment order clearly mentioning levy of interest under sections 234B and 234C, levy could not be challenged

 

Regards

Prarthana Jalan

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

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