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Case Law Details

Case Name : Kamal Clearing and Forwarding Agency Pvt. Ltd. Vs ITO (ITAT Mumbai)
Related Assessment Year : 2010-11
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Kamal Clearing and Forwarding Agency Pvt. Ltd. Vs ITO (ITAT Mumbai)

In the case of Kamal Clearing and Forwarding Agency Pvt. Ltd. vs. ITO, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favor of the appellant, deleting an addition of ₹19,31,004 made under Section 68 of the Income Tax Act. The case arose when the Assessing Officer (AO) treated the amount received by the appellant from Mr. Ravi Prakash as unexplained cash credit, as it was expected from M/s Romex International. The AO, relying on information from the Investigation Wing, alleged that Mr. Ravi Prak

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