Regarding ito has traeted income
This query is : Resolved
Shashikant
(Querist)
12 September 2011
Dear friends and Sir,
I have client , in his case a person withdraw 48 lacs rupees from his bank account and we have treated as loss for that assessment year, but in A.Y. 2010-11 20 lacs rupees recovered by police and held by them. But ITO is treated as income for the that A.Y.
Please tell me about the case study if any.
Thanks,
Sahshikant
I have client , in his case a person withdraw 48 lacs rupees from his bank account and we have treated as loss for that assessment year, but in A.Y. 2010-11 20 lacs rupees recovered by police and held by them. But ITO is treated as income for the that A.Y.
Please tell me about the case study if any.
Thanks,
Sahshikant
U S Sharma
(Expert)
12 September 2011
withdrawing cash from bank results to loss.???????????how
again if the loss was allowed in previous year for any reason, then the recovery would be profit simpaly
again if the loss was allowed in previous year for any reason, then the recovery would be profit simpaly
Shashikant
(Querist)
13 September 2011
NO SIR WE HAVE NOT RECD MONEY, POLICE HOLD THE ENTIRE MONEY FROM ONE YEAR AND THE MAN IS IN JAIL.
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