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HomeDirect TaxPartnership Deed Contained No Recital Regarding Contribution Of Capital By Partners: AP...

Partnership Deed Contained No Recital Regarding Contribution Of Capital By Partners: AP High Court Upholds Addition of Rs. 33 Lakh for Unexplained Cash Deposits

Direct Tax

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By Mariya Paliwala
Partnership Deed Contained No Recital Regarding Contribution Of Capital By Partners: AP High Court Upholds Addition of Rs. 33 Lakh for Unexplained Cash Deposits

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The Andhra Pradesh High Court has dismissed Income Tax Tribunal Appeal affirming the decision of the Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, which sustained an addition of Rs. 33 lakh as unexplained cash deposits under Section 69A of the Income Tax Act, 1961, after rejecting the assessee’s additional evidence. The Court held that the…

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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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