The provisions of section 40A(3) is not intended to restrict the business activities. There is no restriction on the assessee in his trading activities.
It is now time to turn our focus from welfare measures to our anti-evasion performance. CBIC Chairman in its weekly newsletter to the officers
Addition is justified if mere bald statement is made that cash deposits was the sale proceeds without any concrete, cogent and reliable evidences
No person can direct the AO to complete assessment in a particular manner. AO has to independently decide an issue and should not be guided by any terms and conditions issued by the superior authority.
