Addition u/s 69A - unexplained investment in the bank account - ...

Section 69A: Unexplained Investments in Bank Account Deleted Due to Lack of Evidence and Assessee's Lifestyle Considerations.

May 26, 2022

Case Laws Income Tax AT

Addition u/s 69A - unexplained investment in the bank account - Though there is no specific evidence but the circumstances of the assessee and his lifestyle do suggest that the expression “may” used in Section 69A of the Act, has to be used here. This expression “may” infused discretion in the Assessing Officer to treat such an investment as explained or unexplained investment - Additions deleted - AT

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Addition u/s 69A - unexplained investment in the bank account - ...

Section 69A: Unexplained Investments in Bank Account Deleted Due to Lack of Evidence and Assessee's Lifestyle Considerations.

May 26, 2022

Case Laws Income Tax AT

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