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Income Tax - Highlights / Catch Notes

Home Highlights June 2022 Year 2022 This

Addition u/s 68 - unexplained deposits in bank account - The ...

Income Tax

June 23, 2022

Addition u/s 68 - unexplained deposits in bank account - The assessing officer has made the addition simply because the assessee failed to produce the lender. Merely because the assessee failed to produce the lender, cannot be the ground for disbelieving the transaction. The Ld.CIT(A), on the aforesaid facts, discussed, has rightly deleted the addition - AT

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