Unexplained cash deposits in bank account - AO applied the ...

Elderly taxpayer's unexplained deposits lead to tax scrutiny; initial surrender reversed as evidence emerges, additions removed.

November 18, 2023

Case Laws Income Tax AT

Unexplained cash deposits in bank account - AO applied the provisions of sec 115BBE - Assessee was aged about 73 years - Assessee initially surrendered some amount as the source was not traceable - Later he produced the details and evidence of deposit - CIT(A) did not believe the version of the assessee - Additions deleted - AT

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Unexplained cash deposits in bank account - AO applied the ...

Elderly taxpayer's unexplained deposits lead to tax scrutiny; initial surrender reversed as evidence emerges, additions removed.

November 18, 2023

Case Laws Income Tax AT

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