Section 68 not apply to outgo or payment on account of expenditure

Feather Infotech Pvt. Ltd. Vs DCIT (ITAT Delhi) The case of Feather Infotech Pvt. Ltd. Vs DCIT, adjudicated at ITAT Delhi, revolves around the applicability of Sections 68 and 69C of the Income Tax Act. The crux of the matter lies in assessing whether these sections are pertinent to the outgo or payment on account of expenditure. Let’s delve deeper into the analysis. The contention primarily revolves around Section 68, which mandates the credit of amounts in the books maintained by the assessee. However, in this case, the transactions pertain to outgo or payment on account of expenditure...