Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Unexplained u/s.68 - un-explained cash credit addition - Huge amount withdrawn from bank - self made vouchers for expenses - AO observed that expenses were not supported by bills/vouchers and no TDS was made on such amounts - loose sheets found during survey proceedings - It appears that assessee’s failure in filing its cogent explanation only led the Assessing Officer to add the impugned sums in all these assessment years. - Additions confirmed - AT
Unexplained u/s.68 - un-explained cash credit addition - Huge amount withdrawn from bank - self made vouchers for expenses - AO observed that expenses were not supported by bills/vouchers and no TDS was made on such amounts - loose sheets found during survey proceedings - It appears that assessee’s failure in filing its cogent explanation only led the Assessing Officer to add the impugned sums in all these assessment years. - Additions confirmed - AT
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