Incorrect Accounting and Wrong Grouping of Headings can’t be termed as a Bogus Investment: ITAT grants relief to Assessee [Read Order]

Incorrect Accounting - Wrong Grouping of Headings - Bogus Investment - ITAT grants relief to Assessee - taxscan

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to the assessee held that the incorrect accounting and wrong grouping of headings cannot be termed as a bogus investment. The assessee is a private limited company and his main source of income is trading and investment. The assessee filed his return…

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