Income tax act u/s 68 cash deposit

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 December 2018 For one of my friend issue i need some suggestion, and his business is used car trading and his income on commission basis, his turnover is 93 lakhs during AY 2016-17 and there was excess cash deposit of 4 Lakhs which was showed sundry debtors in previous year from third party has been deposited and confirmation letter was given to AO but they have not accepted it and added to tax in special rate for 4 lakhs can i go for appeal

16 December 2018 I am sorry but how do you show excess cash deposit as sundry debtors? should not it be sundry creditors/advance receipts?



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries