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HomeDirect TaxMere Allegation of Cash Loan from Asharam Ashram Can’t Be Treated as...

Mere Allegation of Cash Loan from Asharam Ashram Can’t Be Treated as Undisclosed Income Without Evidence: ITAT

Direct Tax

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By Mariya Paliwala
Mere Allegation of Cash Loan from Asharam Ashram Can’t Be Treated as Undisclosed Income Without Evidence: ITAT

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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s appeal and upheld the deletion of an addition of Rs. 8.75 crore, holding that an alleged loan receipt cannot be treated as undisclosed income without clear evidence and a valid legal basis under the Income Tax Act.  The bench of Vimal…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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