Tag: cash found at lockers
Addition u/s 69 for unexplained cash deleted by the Tribunal. It was held that tag of another bank found on cash bundles not to be given weightage as it is a common practice amongst banks to issue currency bundles as received by them ABCAUS Case Law CitationABCAUS 3457 …
In the absence of finding as to the year of purchase, jewellery found in locker would not represent the undisclosed income as defined in the explanation to section 271AAB of the Act ABCAUS Case Law Citation: ABCAUS 2887 (2019) (04) ITAT Important Case Laws Cited/relied upon by …
The assessee alone can decide whether to keep cash in locker or deposit in bank FDR. ITAT deleted addition made by AO u/s 69A rejecting explanation of assessee ABCAUS Case Law Citation:ABCAUS 2811 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties Rajendra Prasad Subhash Chand …
High Court explains mandate of “reasons to suspect” and “reasons to believe” in income tax search, quashed warrants of authorization for search and seizure of lockers ABCAUS Case Law Citation: ABCAUS 2659 (2018) (12) HC Important Case Laws Cited/relied upon: Pooran Mal Vs. the Director of Inspection (Investigation), …
Cash book not found at search produced later was eye wash. Allahabad High Court rejects contention that it was with accountant as generally users take only data ABCAUS Case Law Citation: ABCAUS 1192 (2017) (03) HC The Substantial Question of Law raised: The appeal was admitted inter alia …
