Undisclosed income from one year can be used in subsequent years to justify investments or expense

ACIT Vs Naresh Jain (ITAT Jaipur)

In this ground, the Revenue contested the telescoping benefit of Rs. 1,00,30,778 that was granted by the CIT(A). Telescoping refers to the adjustment of income or unexplained investments of one year against the undisclosed income of another year. The CIT(A) had allowed the benefit of telescoping by util

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