Addition of Unexplained Capital will sustain in absence Evidence to Prove Source of Capital: ITAT [Read Order]

Evidence - Capital - ITAT - taxscan

The Visakhapatnam bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of unexplained capital will sustain in the absence of evidence to prove the source of capital. The appellant was represented by Shri Samuel Nagadesi and the respondent was represented by Shri S.P.G.Mudaliar. The Assessing Officer (AO) observed that the assessee has…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader