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Income Tax - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

Unexplained money u/s. 69A and levied tax u/s. 115BBE - the ...


Assessee's Cash Deposits Explained, AO's Section 69A Classification Overturned, Section 115BBE Tax Imposition Challenged Successfully.

March 7, 2023

Case Laws     Income Tax     AT

Unexplained money u/s. 69A and levied tax u/s. 115BBE - the assessee has filed cash book explaining date wise receipts from various parties and deposited into bank account. AO is completely erred in making additions towards cash deposits into bank account as unexplained money u/s. 69A of the Act and levied tax u/s. 115BBE when the assessee has explained source for said cash deposits. - AT

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