Assessing Officer Cannot Add Unexplained Cash Credit Without Incriminating Material in Section 153A Proceedings. Use Section 147/148 Instead.

Assessing Officer Cannot Add Unexplained Cash Credit Without Incriminating Material in Section 153A Proceedings. Use Section 147/148 Instead. https://www.taxtmi.com/highlights?id=47342 Proceedings u/s 153A - addition of Unexplained cash credit U/s 68 - if there is no incriminating material to reassess the income of the assessee then the AO legally cannot make the addition based on the information and evidence received from the Inv.Wing - it is open to the AO to initiate the proceeding U/s 147/148 instead of making the addition in the proceeding U/s 153A en-us Fri, 21 Jun 2019 08:54:58 +0530 Fri, 21 Jun 2019 08:54:58 +0530 TaxTMI RSS Generator Assessing Officer Cannot Add Unexplained Cash Credit Without Incriminating Material in Section 153A Proceedings. Use Section 147/148 Instead. https://www.taxtmi.com/highlights?id=47342 Proceedings u/s 153A - addition of Unexplained cash credit U/s 68 - if there is no incriminating material to reassess the income of the assessee then the AO legally cannot make the addition based on the information and evidence received from the Inv.Wing - it is open to the AO to initiate the proceeding U/s 147/148 instead of making the addition in the proceeding U/s 153A Highlights Income Tax Fri, 21 Jun 2019 08:54:58 +0530 https://www.taxtmi.com/highlights?id=47342