Wednesday, January 15, 2020

Sec. 69A additions justified as assessee failed to explain source of cash deposited in bank; SLP dismissed

INCOME TAX: Where High Court upheld Tribunal's order holding that since assessee had withdrawn huge amount of cash from his bank account on different dates source of which she failed to explain, and, thus, an addition was to be made under section 69A, SLP filed against said order was to be dismissed

from www.taxmann.com Latest Case Laws https://ift.tt/2TmmzSV

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...