Thursday, November 20, 2014

[aaykarbhavan] In lending business one can’t assume that cash shortage found in search to be set-off with unexplained investment



In lending business one can't assume that cash shortage found in search to be set-off with unexplained investment

November 20, 2014[2014] 50 taxmann.com 219 (Kerala)
IT: When undisclosed income that was invested remained unexplained by assessee, shortage of cash in unaccounted money lending business could not be set off against unexplained investment on basis of mere presumption
 
Regards
Prarthana Jalan


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


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