Addition u/s. 69/68 - Cash deposit in joint bank account - We ...

Court Rules Joint Account Cash Deposits Attributable to Assessee's Wife; Sections 69/68 Challenge Dismissed.

February 11, 2022

Case Laws Income Tax AT

Addition u/s. 69/68 - Cash deposit in joint bank account - We are unable to comprehend as to how an addition can be made in the hands of assessee towards cash deposits in the joint bank account when not only the source of deposit but also the entire background of facts leading to the receipt of amount in the hands of assessee's wife was also thoroughly explained before the AO. The assessee's wife was separately assessed to tax, in support of which, her copies of income tax returns were also furnished. We are fully satisfied that the assessee discharged the onus upon him to prove the source of deposit in the joint bank account. - AT

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Addition u/s. 69/68 - Cash deposit in joint bank account - We ...

Court Rules Joint Account Cash Deposits Attributable to Assessee's Wife; Sections 69/68 Challenge Dismissed.

February 11, 2022

Case Laws Income Tax AT

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