scrutiny assessment
This query is : Resolved
29 September 2008
Dear colleagues,
In one of my scrutiny assessment,assessee has around 4 lacs creditors which are not confirming say bogus and likewise 3 lacs debtors (bogus).
What will be addition
4lcs or 7 lacs or 1 lacs.My contention with A.O.is it should be 1 lac (net of creditors & debtors)
Kindly have your view
Regards
c.a.paresh zatakia
In one of my scrutiny assessment,assessee has around 4 lacs creditors which are not confirming say bogus and likewise 3 lacs debtors (bogus).
What will be addition
4lcs or 7 lacs or 1 lacs.My contention with A.O.is it should be 1 lac (net of creditors & debtors)
Kindly have your view
Regards
c.a.paresh zatakia
29 September 2008
It depends upon how the creditors and debtors were incorporated in the accounts (that is the entry through wich)
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