Addition of cash deposit u/s 68 and invoking of section 115BBE - ...

Court Deletes Tax Additions for Senior Widow; Cash on Hand for Medical Needs Not Suspicious u/ss 68, 115BBE.

March 29, 2023

Case Laws Income Tax AT

Addition of cash deposit u/s 68 and invoking of section 115BBE - When the assessee suffering with serious diseases requiring emergency treatment at any time in super speciality hospital then it is incumbent upon the assessee to have sufficient financial resources ready in hands to meet any unforeseen serious situation. In such a position if a super senior citizen widow lady having no other means of income is keeping cash in hand then it would not be taken as doubtful conduct of assessee attracting the rigor of taxing provisions to such amount - Additions deleted - AT

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Addition of cash deposit u/s 68 and invoking of section 115BBE - ...

Court Deletes Tax Additions for Senior Widow; Cash on Hand for Medical Needs Not Suspicious u/ss 68, 115BBE.

March 29, 2023

Case Laws Income Tax AT

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