section 68

  • Income Tax

Set off of business loss from unexplained cash credits u/s 68 not permissible in view of combined reading of sections 71 , 72 and 32(2).

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits…

8 years ago
  • Income Tax

Cash advance received adjusted against sales could not be added u/s 68 treating the same as unexplained

Cash advance received adjusted against sales could not be added u/s 68 treating the same as unexplained THE INCOME TAX…

8 years ago