“The matter is typical of how business is conducted in this country and why loans obtained from banks remain unpaid.” The Calcutta High Court, last week held that the addition to income can be made on the basis of balance sheet and profit and loss accounts certified to have been prepared on estimate basis to […]
The post Bogus Balance Sheet prepared to avail Bank Loan can be basis for Addition: Calcutta HC asks to proceed against CA Firm for Inflating Value of Assets [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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