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Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

Unexplained cash credit - merely because of the gap of 1 to 3 ...


Time Gap in Transactions Doesn't Prove Unexplained Cash Credits: Withdrawal and Deposit Dates Matter.

June 28, 2013

Case Laws     Income Tax     AT

Unexplained cash credit - merely because of the gap of 1 to 3 months between the date of withdrawal and date of deposits, it could not be inferred that the source of deposits in PNB remained unexplained. - AT

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