ITAT Rules Employer Advances Cannot Be Treated as Unexplained Money Without Verification

Salil Sadanand Phadte Vs ITO (ITAT Mumbai)

ITAT Mumbai: Employer Advances Can’t Be Branded as Unexplained Money Without Proper Verification; Matter Sent Back for Limited Remand

Assessee, an employee, received substantial amounts from employer M/s Sanda Wellbeing Pvt. Ltd., which were claimed as advances for customer acquisition & business promotion expenses. AO treated ₹1.20 crore as unexplained money u/s 69A, mainly due to absence of vouchers & cash withdrawals, & CIT(A) confirmed the additi

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