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HomeDirect TaxITAT Deletes Rs. 59.9 Lakh Additions, Grants Major Relief to Taxpayer in...

ITAT Deletes Rs. 59.9 Lakh Additions, Grants Major Relief to Taxpayer in Cash Deposit, Gift, Capital Gains Case

Direct Tax

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By Mariya Paliwala
ITAT Deletes Rs. 59.9 Lakh Additions, Grants Major Relief to Taxpayer in Cash Deposit, Gift, Capital Gains Case

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The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has provided significant relief to an assessee by deleting multiple income additions made by the tax department relating to alleged unexplained cash deposits, a family gift transaction, and wrongful denial of capital gains exemption. The bench of Anubhav Sharma (Judicial Member) and S. Rifaur Rahman (Accountant Member)…

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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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