The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has granted significant relief to an assessee by holding that once sales have been accepted by the Assessing Officer (AO), the corresponding cash receipts deposited in bank accounts cannot automatically be treated as unexplained cash credits and restricted the addition by directing application of a…
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Entire Sales Receipts Can’t Be Treated as Unexplained Income: ITAT Restricts Rs. 11.52 Crore Addition on Cash Deposits
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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