Additions u/s 68 - Unexplained Cash credit found in the bank ...

Assessing Officer's Discretion Upheld: Rs 2,50,000 Savings Within Human Probability, Additions Deleted.

January 6, 2024

Case Laws Income Tax AT

Additions u/s 68 - Unexplained Cash credit found in the bank account - The provisions of s. 68 & 69 use the word may indicating discretion conferred upon the AO by the statute, who is supposed to use such discretion judiciously and is not obliged always to make an addition - the saving of a meager Rs 2,50,000/- is not beyond the pre-ponderance of human probability so as to be disbelieved. - Additions deleted - AT

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Additions u/s 68 - Unexplained Cash credit found in the bank ...

Assessing Officer's Discretion Upheld: Rs 2,50,000 Savings Within Human Probability, Additions Deleted.

January 6, 2024

Case Laws Income Tax AT

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