Addition u/s 68 of Income Tax Act deleted on Establishment of Source of Income: Calcutta HC upholds ITAT’s Order [Read Order]
The Tribunal has noted that addition has already been made in the hand of the subscribing company and therefore, no further addition is required to be made in the hands of the assessee.
The Calcutta High Court concerning a case upheld the order of the Income Tax Appellate Tribunal ( ITAT ) which deleted the addition made under section 68 of the Income Tax Act, 1961 on establishment of the source of income. The appeal was filed by the revenue under Section 260A of the Income Tax Act,…
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