Assessee's Retraction of Undisclosed Income Disclosure Unacknowledged by Authorities; Burden of Proof on Assessee to Justify.

Assessee's Retraction of Undisclosed Income Disclosure Unacknowledged by Authorities; Burden of Proof on Assessee to Justify. https://www.taxtmi.com/highlights?id=22139 The assessee in first round surrendered income, which was retracted later, cognizance of which has not been taken either by the AO or the CIT(A). The onus is fully upon the assessee to explain with evidence as to the reason why it is retracting from its earlier disclosure of undisclosed income - AT en-us Wed, 18 Mar 2015 08:17:09 +0530 Wed, 18 Mar 2015 08:17:09 +0530 TaxTMI RSS Generator Assessee's Retraction of Undisclosed Income Disclosure Unacknowledged by Authorities; Burden of Proof on Assessee to Justify. https://www.taxtmi.com/highlights?id=22139 The assessee in first round surrendered income, which was retracted later, cognizance of which has not been taken either by the AO or the CIT(A). The onus is fully upon the assessee to explain with evidence as to the reason why it is retracting from its earlier disclosure of undisclosed income - AT Highlights Income Tax Wed, 18 Mar 2015 08:17:09 +0530 https://www.taxtmi.com/highlights?id=22139