HC deletes sec. 69B additions as AO failed to prove that purchases were made out of undisclosed income – JMP Associates

Where Assessing Officer could not show that assessee had made purchases out of undisclosed income, addition was not justified under section 69B.

HC deletes sec. 69B additions as AO failed to prove that purchases were made out of undisclosed income

← No sec. 11 relief if trust was doing supermarket business on commercial lines, being not incidental to its objects
No capital gain on transfer of transferable development rights as its cost of acquisition couldn’t be determined →