The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that no addition under section 68 of the Income Tax Act cannot be invoked only on the basis of mere suspicion. The assessee, the son of Shri Madhukar Rathi, filed his income tax return for the relevant assessment year. However, the Assessing Officer […]
The post Addition for Unexplained Cash Credit can’t be merely on Suspicion: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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