AO is under obligation to give reasons for not accepting explanations u/s 69
July 24, 2024
Income Tax, ITAT
Under Section 69, AO is under obligation to give reasons for not accepting explanations given by the assessee – ITAT In a recent judgment, ITAT Lucknow has held that under section 69 if the explanation furnished by the assessee not found to be satisfactory, the AO is under …