Assessment Under Sec 153A: Unsecured Cash Credits Deemed Genuine Due to Lack of Contrary Evidence by Assessing Officer.

Assessment Under Sec 153A: Unsecured Cash Credits Deemed Genuine Due to Lack of Contrary Evidence by Assessing Officer. https://www.taxtmi.com/highlights?id=61169 Assessment u/s 153A - Addition u/s 68 - Unsecured cash credits - documentary evidences on record have not been rebutted by the A.O. through any evidence or material on record. No independent enquiry has been made against these documentary evidences except issuing notices under section 133(6), which were also replied by the subscribing companies. Therefore, such documentary evidences clearly support the explanation of assessee that investments made in the assessee companies are genuine. - AT en-us Tue, 28 Dec 2021 14:03:32 +0530 Tue, 28 Dec 2021 14:03:32 +0530 TaxTMI RSS Generator Assessment Under Sec 153A: Unsecured Cash Credits Deemed Genuine Due to Lack of Contrary Evidence by Assessing Officer. https://www.taxtmi.com/highlights?id=61169 Assessment u/s 153A - Addition u/s 68 - Unsecured cash credits - documentary evidences on record have not been rebutted by the A.O. through any evidence or material on record. No independent enquiry has been made against these documentary evidences except issuing notices under section 133(6), which were also replied by the subscribing companies. Therefore, such documentary evidences clearly support the explanation of assessee that investments made in the assessee companies are genuine. - AT Highlights Income Tax Tue, 28 Dec 2021 14:03:32 +0530 https://www.taxtmi.com/highlights?id=61169