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Case Law Details

Case Name : Sneh Developers Pvt. Ltd Vs DCIT (ITAT Delhi)
Related Assessment Year : 2011-12
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Sneh Developers Pvt. Ltd Vs DCIT (ITAT Delhi)

As per the AO, the assessee has not filed return of income and hence notice u/s 148 of the Income Tax Act, 1961 has been issued owing to cash transactions exceeding Rs.10,00,000/-. The AO held that the assessee has not given any details with regard to the cash deposits of Rs.10,00,000/-. Hence, the amount has been added u/s 68 of the Act. Further, the assessee had credits of Rs.2.94 Cr. as per Form 26AS and since the source of income is not established. The AO made addition of th

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