Doc. produced to establish genuineness of transaction can’t be doubted without bringing any adverse evidence: HC

INCOME TAX : Where transaction between assessee and ‘S’ was clearly evident from documentary evidence produced by assessee, Assessing Officer without bringing any adverse evidence on record, simply on assumptions and presumptions was not justified in holding that transaction of assessee with ‘S’ was bogus; Commissioner (Appeals) rightly deleted addition under section 68 made to income disclosed by assesseeINCOME TAX : Where transaction between assessee and ‘S’ was clearly evident from documentary evidence produced by assessee, Assessing Officer without bringing any adverse evidence on record, simply on assumptions and presumptions was not justified in holding that transaction of assessee with ‘S’ was bogus; Commissioner (Appeals) rightly deleted addition under section 68 made to income disclosed by assesseewww.taxmann.com Latest Case LawsRead More

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