Rs 8 lakh cash deposited in bank - man gets tax notice! How he won case in ITAT
A taxpayer successfully challenged the tax department's decision to treat a large cash deposit as presumptive business income. The Income Tax Appellate Tribunal ruled that the Assessing Officer exceeded his jurisdiction by expanding a limited scrutiny case without proper approval, reinforcing taxpayer rights.
A taxpayer successfully challenged the tax department's decision to treat a large cash deposit as presumptive business income. The Income Tax Appellate Tribunal ruled that the Assessing Officer exceeded his jurisdiction by expanding a limited scrutiny case without proper approval, reinforcing taxpayer rights.
