Addition u/s 69A - unexplained money - since the assessee is a ...

Income Tax

February 7, 2023

Addition u/s 69A - unexplained money - since the assessee is a non-resident Indian and except earning income from fixed deposits, there is no iota of evidence which could indicate that the assessee is carrying out any activity in the nature of business or otherwise to earn income from any other sources in India. Simply suspicion and behavioural pattern of frequent withdrawal by the assessee cannot be the basis of treating cash deposits as unexplained money u/s 69A - AT

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Addition u/s 69A - unexplained money - since the assessee is a ...

Income Tax

February 7, 2023

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