Day: August 27, 2016

Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made alleging customers advances opening balances as bogus

Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made by Assessing Officer alleging opening balances of customers advances as bogus. ABCAUS Case Law Citation: 1000 2016 (08) ITAT The Prelude: It has bee widely held in numerous judgments that additions u/s 68 can not …