Income already Disclosed under Pradhan Mantri Garib Kalyan Yojana, 2016 can’t be treated as Unexplained Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jaipur Bench held that income already disclosed under Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016 can not be treated as unexplained income under section 68 of the Income Tax Act. The assessee, Nawal Kishore Soni is an individual carrying on the business of trading in Bullion i.e. gold and […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2GH1uOT