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Income Tax - Highlights / Catch Notes

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Unaccounted cash loans - Addition on money received by the ...


CIT(A) Correctly Deletes Additions on Unaccounted Cash Loans After AO's Taxation of MBDL Transactions Found on Cloud Data.

May 27, 2021

Case Laws     Income Tax     AT

Unaccounted cash loans - Addition on money received by the assessee - transactions found on Cloud Data - since the amounts had already been added by the AO and the same had already been subjected to tax in the hands of MBDL and related entities, therefore, the ld. CIT(A) after considering all those facts had correctly deleted the addition made in various assessment years. - AT

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