Addition on account of foreign currency found during the course ...

Tribunal Confirms Unaccounted Foreign Currency as Income Due to Insufficient Evidence from Business Trips.

March 6, 2024

Case Laws Income Tax AT

Addition on account of foreign currency found during the course of search - unaccounted income - The ITAT observed that no grounds to interfere with the CIT(A)'s findings. Despite acknowledging the possibility of the currency being remnants of business trips, the onus remained on the assessee to furnish conclusive evidence, which was not adequately provided. Consequently, the appeal of the assessee was dismissed.

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Addition on account of foreign currency found during the course ...

Tribunal Confirms Unaccounted Foreign Currency as Income Due to Insufficient Evidence from Business Trips.

March 6, 2024

Case Laws Income Tax AT

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