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Income Tax - Highlights / Catch Notes

Home Highlights January 2023 Year 2023 This

Unexplained cash - assessee had deposited a huge amount of cash ...


Tribunal Upholds Taxable Income Additions After Assessee Fails to Provide Complete Details to Assessing Officer.

January 16, 2023

Case Laws     Income Tax     AT

Unexplained cash - assessee had deposited a huge amount of cash in its bank account - the Tribunal also directed the assessee to produce the parties as may be required by the AO. However, as is evident from the findings recorded by the lower authorities, in the 2nd round of proceedings, the assessee failed to furnish all the details as sought by the AO. - Additions confirmed - AT

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