Kerala HC upholds Addition u/s 40 (3) of Income Tax Act in Absence of Material Evidence [Read Order]

Absence of Material Evidence - Income Tax Act - Income Tax - Tax News - Evidence - Kerala High Court Updates - High Court Updates - TAXSCAN

The Kerala High Court upheld the addition under section 40 (3) of the Income Tax Act, 1961 in the absence of material Evidence. P V Thomas, the petitioner challenged the order of the Income Tax Appellate Tribunal, Cochin Bench. The appellant, who is a dealer in used cars, had filed a return of income on…

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