Loose sheets of bogus donations can’t be treated as incriminating material if such donations were duly recorded in books

INCOME TAX : Where Assessing Officer initiated proceedings under section 153C against assessee on basis of loose sheets found during search showing that assessee had received bogus donation, since such donation was duly recorded in books of account of assessee and disclosed in return of income and donation was received through proper banking channel, such loose sheets could not be considered as incriminating material so as to initiate proceedings under section 153C upon assessee,INCOME TAX : Where Assessing Officer initiated proceedings under section 153C against assessee on basis of loose sheets found during search showing that assessee had received bogus donation, since such donation was duly recorded in books of account of assessee and disclosed in return of income and donation was received through proper banking channel, such loose sheets could not be considered as incriminating material so as to initiate proceedings under section 153C upon assessee,www.taxmann.com Latest Case LawsRead More

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