3 results for “disallowance”+ Section 68clear
Sorted by relevance
Key Topics
The appeals are dismissed
Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK
68, and, (b) the amounts secured as loan were treated as “deemed dividend” by the Assessing Officer (AO). Aggrieved, the assessee approached the CIT(A), who deleted the amounts brought to tax. Revenue unsuccessfully appealed the ITAT. The Revenue urges that the additions made on account of income from undisclosed sources i.e. by way of suspect credits claimed