Unexplained closing cash balance - Additions u/s.68 - As per the ...

Case Laws Income Tax

May 10, 2023

Unexplained closing cash balance - Additions u/s.68 - As per the assessee, the cash balance was arising to him out of the accumulated fund from the agricultural activities which has been disbelieved by the AO but without bringing any material on record that the cash was generated by the assessee from any other activity which was subject to tax. Thus revenue failed to discharge the onus imposed upon it to disprove the contention of the assessee. - AT

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Unexplained closing cash balance - Additions u/s.68 - As per the ...

Case Laws Income Tax

May 10, 2023

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