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Income Tax - Highlights / Catch Notes

Home Highlights March 2017 Year 2017 This

Unexplained cash deposit - In many cases, small amounts were ...


High Court Confirms Taxable Income Additions Due to Unexplained Cash Deposits and Withdrawals by Different Individuals.

March 27, 2017

Case Laws     Income Tax     HC

Unexplained cash deposit - In many cases, small amounts were withdrawn two or three times on a single day by different persons. Further, the deposits in Bank were made after a gap of two-three instances of withdrawals - assessee was not able to link the cash withdrawn from the bank with the cash deposit - additions confirmed - HC

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