Telescoping Allowed; Cash Found Explained from Firm’s Surrendered Income

Rakesh Kumar Vohra Vs DCIT (ITAT Chandigarh)

The ITAT, Chandigarh Bench held that telescoping benefit cannot be denied merely because firm’s disclosure is profit-estimated and not cash-flow specific, when the assessee is a substantial partner and the unaccounted income must manifest as cash or assets.

In this case,

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