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Insurance Premium Collections Cannot Be Taxed as Unexplained Money Without Contrary Evidence: ITAT Agra
Case Law Details
- Case Name
- ITO Vs Sumit Jindal (ITAT Agra)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
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ITO Vs Sumit Jindal (ITAT Agra)
Section 69A Addition Deleted Because Bank Credits Were Properly Explained: ITAT; ITAT Rejects Section 69A Addition Because Insurance Premium Transactions Were Explained; Unexplained Money Addition Unsustainable Because Revenue Produced No Contrary Evidence: ITAT; ITAT Upholds Deletion of ₹2.35 Crore Addition Because Insurance-Related Credits Were Explained
The Income Tax Appellate Tribunal (ITAT), Agra, dismissed the Revenue’s appeal and upheld the order of the Commissioner of Income Tax (Appeals) [CIT(A)] deleting the addition of ₹2,35,22...
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