Section 68- AY 2011-12- ITAT SURAT- May 4, 2020 When the assessee furnishes names and addresses of the alleged creditors and the GIR Numbers, the burden shifts to the Department to establish the revenue’s case and in order to sustain the addition the revenue has to pursue the enquiry and to establish the lack of creditworthiness and mere non-compliance of summons issued by the Assessing Officer under section 131 by the alleged creditors will not be sufficient to draw an adverse inference against the assessee. DCIT vs. KEJRIWAL INDUSTRIES LTD.
Section 68- AY 2011-12- ITAT SURAT- May 4, 2020 When the assessee furnishes names and addresses of the alleged creditors and the GIR Numbers, the burden shifts to the Department to establish the revenue’s case and in order to sustain…
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