Assessee only needs to Prove the Source of Credit entries and not Source Creditors’ Credit: Allahabad HC [Read Judgment]

The High Court of Allahabad held that assessee only needs to prove the source of credit entries and he is not required to prove the source of the source or the creditors’ credit. The assessee, M/s Kesharwani Sheetalaya Sahsaon Allahabad is a partnership firm having sixteen partners engaged in the business of cold storage. For […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3aKIYOZ