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Q. > Please Help: income tax
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290 views • Question added Aug 21, 2014 • Income Tax • By SUNIL AGRAWAL , CA , Raigarh


One of my client take unsecured loan Rs. 5.00 Lacs. from his Wife by account payee cheque. his wife was deposited cash in her account and issued a account payee cheque as U/L to her husband.she was also shown this amount to her income tax return. in the scrutiny case ITO disallowed this transaction and disallowed and added as income in my client account. i want to know that whether any circular of cbdt in this record or not. and whether the action taken by ITO is justified or not.

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sukhdev

24-Aug-2014 , 07:05:51 pm

have to prove that rs. 5.00 lacs were wife income. will get relief in appeal.

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