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 4 Replies

Dr J C Vashista (Advocate)     03 November 2021

It depends upon case to case, nothing can be presumed as to where and what is the case and what is proposed to be proved.

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Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     03 November 2021

The Supreme Court observed that the consideration of balance sheets as a valid acknowledgment of debts for the purposes of the Act cannot be refuted. ... CIT, wherein it was held that since the registers of a company constitute prima facie evidences,the balance sheet does tantamount to be a valid acknowledgment of debt.

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G.L.N. Prasad (Retired employee.)     03 November 2021

Yes, if it is duly signed and audited by a chartered accountant and original.   You can file RTI and seek such information from ITO, relevant to the single entry you are concerned with.  Information provided under RTI is a piece of valid evidence:  

Information solicited:

1. Please provide whether ........................with PAN No......................disclosed the entry of ................................Rs...............in Balance sheet.

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P. Venu (Advocate)     03 November 2021

You have not posted the material facts.


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