Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

No protective additions in hands of shareholder if similar addition was made in hands of co. on substantive basis

No addition was to be made in case of assessee on 'protective basis', when said amount had already been added to income of overseas companies on 'substantive basis' in which assessee was a shareholder

Refer:[2018] 90 taxmann.com 175 (Delhi - Trib.)

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