Tag: ITAT Allahabad

Merely stating head of income from which unexplained investment was generated without stating the actual source does not amount to an explanation within the meaning of section 69.  In a recent judgment ITAT Allahabad has held that merely stating the head of income from which the unexplained investment …

No infirmity in reopening on the reasoning that no return was filed by the assessee when assessee was using two different PANs, one for bank operation and other for filing ITR – ITAT  In a recent judgment ITAT Allahabad has held that there was no infirmity in the …