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Unverified creditors shall not be deemed to exist; will be taxed under sec. 41(1): ITAT

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  • Unverified creditors shall not be deemed to exist; will be taxed under sec. 41(1): ITAT
Posted onon August 13, 2018

Tenet Tax Daily August 11 2018

By tenettax-team
Corporate Tax

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Money retained by ONGC to ensure successful completion of contract to be taxed in year of actual receipt
Unexplained gifts once assessed in block assessment, can’t be reassessed in regular assessment

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