Addition u/s 40A(3) of Income Tax Act in absence of evidence of tax evasion is unsustainable

Heera Mani Devi Vs ITO (ITAT Patna)

ITAT Patna held that in absence of any evidence of tax evasion by showing fictitious or false transactions, addition by invoking provisions of section 40A(3) of the Income Tax Act unsustainable.

Facts-

The assessee is engaged in the business of trading of medicine and is the stockist of H. L. Medicines. The assessee filed his return of income on 28.09.20 12 reporting total income of Rs.6,67,340/-. Stat

Please become a Premium member. If you are already a Premium member, login here to access the full content.