Unexplained cash deposit in the Bank A/c - in the subsequent ...

Taxpayer's Cash Deposit Initially Unexplained, Later Recognized as Business Income u/s 44AF; Decision Overturned.

October 4, 2021

Case Laws Income Tax AT

Unexplained cash deposit in the Bank A/c - in the subsequent assessment year the A.O. himself has accepted that the S.B. A/c of the assessee is used for his business transactions and since the assessee has opted for presumptive taxation under section 44AF lower authorities are not justified in sustaining the addition as unexplained cash deposit in the Bank - AT

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Unexplained cash deposit in the Bank A/c - in the subsequent ...

Taxpayer's Cash Deposit Initially Unexplained, Later Recognized as Business Income u/s 44AF; Decision Overturned.

October 4, 2021

Case Laws Income Tax AT

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